Ascentris forms vehicle for the purposes of long-term holds

Ascentris has finalized the formation of a new investment vehicle for the purpose of transferring properties, upon stabilization, from a value-add portfolio to a long-term hold portfolio.

The new vehicle was seeded by a stabilized class A office building located within “the Loop” in downtown Chicago.

“This new vehicle provides both our clients and operating partners, alike, with a host of benefits,” said Denis Curran, vice president of Ascentris.

“We are now able to provide our clients with broader access to high-quality real estate while avoiding excessive frictional costs associated with open-market transactions. Our operating partners benefit as well; they now have the option to remain invested in properties we have either acquired or developed together,” added Curran.

Since its formation, Ascentris has either acquired or developed more than $1 billion of real estate that resulted in sales to buyers seeking a long-term hold. Now that the ne