Ascentris, a Denver-based real estate private equity firm, has expanded its relationship with Grubb Ventures through the acquisition of Glenwood Place Phase II, a mixed-use community in Raleigh, N.C. The financial terms were not disclosed.
The property currently consists of six office buildings developed between 1973 and 1978, totaling 175,000 square feet over 17.2 acres located within the Glenwood Place. Together with its current ownership of office properties 3700 Glenwood and 3800 Glenwood and multifamily properties Sojourn and The Residences, the property completes the full ownership of Glenwood Place by Grubb Ventures and Ascentris. Strategically located inside the I-440 beltline along Glenwood Avenue, Glenwood Place is adjacent to Raleigh’s most sought-after residential neighborhoods and provides convenient access to downtown Raleigh, the Raleigh-Durham International Airport, and Crabtree Valley Mall and North Hills, two of the premier shopping centers in Raleigh.
