Ascentris and Optima close-out Scottsdale, Ariz., condominiums

Ascentris, a Denver-based real estate private equity firm, has announced the closing of all the units in 7120 Optima Kierland (Optima Kierland II), a 12-story condominium tower in Scottsdale, Ariz. Ascentris and its development partner, Optima, completed construction of the 220-unit luxury condo tower at the beginning of 2018; the building was nearly 80 percent pre-sold prior to delivery.

Optima Kierland II was the second phase of a four-phase residential development master-planned by Optima, consisting of two apartment towers and two condominium towers. The first phase, 7160 Optima Kierland (Optima Kierland I), a 150-unit apartment property, was developed by Ascentris and Optima in 2017. Ascentris successfully exited Optima Kierland I in early 2019 when Optima recapitalized the investment with a global investment management firm.

The third phase, 7180 Optima Kierland (Optima Kierland III), will be a 202-unit condominium tower also developed by Ascentris and Optima. Co