Ascentris Transfers Whole Foods-Anchored Retail Center to Long-Term Hold Vehicle
Denver, Colorado (April 29, 2019) – Ascentris, a Denver-based real estate private equity company, announced today that it has transferred Waverly Shopping Center, a 166,000 square foot Whole-Foods anchored shopping center located in Charlotte, NC to its long-term hold vehicle. The long-term hold vehicle was formed in 2018 for the purposes of transferring stabilized properties from its value-add portfolio into a new long-term hold portfolio and was seeded by a class-A office building located in downtown Chicago, Illinois.
“Our long-term hold vehicle provides both our clients and operating partners with a host of benefits,” said Denis Curran, Vice President of Ascentris. “It provides our clients with broader access to high-quality core real estate while avoiding excessive frictional costs associated with open market transactions. Our operating partners benefit as they now have the option to remain invested long-term in properties we have either acquired or developed together. Waverly Shopping Center will fit very nicely into this portfolio”, added Curran.
Opened in 2017, the property is part of a larger 90-acre mixed-use, master planned development that includes two Class A office buildings, two medical office buildings, a myriad of for-sale and for-rent residential properties, and a 141-key Hilton Garden Inn. The property is currently 98% leased to 42 tenants including Whole Foods, Ulta Beauty, Wells Fargo, and Chipotle.
Ascentris is a real estate private equity firm based in Denver, Colorado. With over $1.3 billion in assets under management, Ascentris manages a series of fully discretionary institutional vehicles targeting core, value-add and opportunistic investments across all the major property types and geographic regions within the United States. Since 2003, Ascentris’ management team has relied on an investment philosophy and organizational structure that results in its investors getting to opportunities ahead of the market while receiving an unmatched level of service, transparency and accountability. Ascentris is a privately held and management-owned SEC registered investment adviser that maintains an unwavering commitment to put its investors needs first. Additional information is available at www.ascentris.com.