Denver, CO (May 25, 2021)
Ascentris, a Denver-based real estate private equity firm, announced that NAIOP Arizona presented 777 Tower with the Sustainable Project of the Year Award as part of the Best of NAIOP 2020 awards.
The award builds upon the property’s LEED Gold certification and highlights 777 Tower’s environmentally conscious design, marking another milestone in Ascentris’ commitment to sustainable real estate initiatives.
Acquired in December 2020 through a joint venture between Ascentris and San Diego-based Cypress Office Properties, LLC, 777 Tower was developed by Ryan Companies in 2020 and is currently 83% leased to Arizona State University and IT services and consulting firm Infosys Limited.
The property is the first office building delivered within the Novus Innovation Corridor, a 355-acre planned mixed-use, public-private development between Arizona State University and Catellus. At full buildout, the Novus Innovation Corridor will include approximately 11 million square feet of office, residential, hotel and retail space within a live-work-play master-planned district featuring pedestrian thoroughfares, street-level retail and outdoor gathering spaces.
NAIOP, the Commercial Real Estate Development Association, is a leading organization for developers, owners and professionals in office, industrial, retail and mixed-use real estate. The association includes approximately 20,000 members across North America. The Arizona chapter is one of the largest of NAIOP’s 51 chapters, with more than 800 individual members and 100 corporate sponsors.
About Ascentris
Ascentris is a real estate private equity firm based in Denver, Colorado. With over $2.2 billion in assets under management, Ascentris manages a series of fully discretionary institutional vehicles targeting both core and value-add investments across 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 allows investors to access opportunities ahead of the market while receiving a high level of service, transparency and accountability. Ascentris is a privately held and management-owned SEC registered investment adviser committed to putting its investors’ needs first.
Additional information is available at www.ascentris.com.
About Cypress Office Properties, LLC
Cypress Office Properties, LLC is a San Diego-based real estate investment and operating company specializing in acquisitions of value-add, redevelopment and core-plus office and healthcare properties in key markets across the Southwest United States.
The company primarily focuses on Southern California, Phoenix and Denver. Since its founding in 2009, Cypress has built a portfolio of sixteen properties totaling approximately 3.6 million square feet. For more information, visit www.CypressOffice.com
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