Ascentris and Grubb Ventures have expanded their partnership with the acquisition of a class A multifamily property and additional land parcel in Raleigh, N.C.
The partnership will own and operate the existing 296-unit multifamily property, known as Sojourn, while it develops an additional 278-unit, class A multifamily property, known as The Residences, on the land parcel.
According to Ascentris, Sojourn features high-end unit interiors and appliances, an outdoor entertainment pavilion with a kitchen and fire pits, a private conference room, a 24-hour fitness center, electric car charging stations, a dog spa and park, a wine cellar, automated package lockers, a saltwater pool with private loungers and cabanas, and a covered parking deck. The property is also adjacent to the Raleigh Greenway System, which has more than 100 miles of trails.
The Ascentris/Grubb partnership began in December 2018 with the acquisition of two office properties located at Glenwood Place.
