Ascent Real Estate Capital and Tribek Properties are finishing construction on a transformative redevelopment project at I-277 and N. Graham Street. The project will offer 37,650 SF of creative office and retail space in 1950s-vintage masonry buildings as well as a new, 5,000 SF build-to-suit opportunity. The property is on schedule to deliver in Winter 2019.
Ascent and its joint venture partner, Centro Cityworks, are developing a boutique 91-unit apartment community with 13,000 SF of ground-floor commercial space. The project is a part of The Railyard, a landmark mixed-use development bringing 300,000 SF of Class A office space to the heart of South End. Major tenants at The Railyard include Allstate, Ernst & Young and WeWork.
In April 2019, Ascent and Laurel Street Residential acquired a 98-unit apartment community in the Oakhurst neighborhood. The partnership has renovated and implemented a long-term deed restriction on the property to maintain affordability for existing and future residents. The project is one of the first of its kind in the Charlotte market, using private equity to finance the acquisition and preservation of naturally-occurring affordable housing.
In March 2019, Ascent and its investment partner acquired the VanLandingham Estate. The historic property dates back to 1913 and is located in the heart of Plaza-Midwood. Restoration plans for the estate and surrounding grounds are currently underway.
3609 South Boulevard
In January 2018, Ascent acquired a 23,000 SF shopping center on the dynamic South Boulevard corridor. The property had been renovated and re-tenanted by the brokerage team at Ascent Real Estate Partners and is 100% occupied. In 2019, Ascent acquired and is starting renovations on a neighboring 6,500 SF building now available for lease.
In October 2017, Ascent acquired a vacant 20,000 SF warehouse building located a half block from The Olde Mecklenburg Brewery in Lower South End. In August 2018, the property finished a transformative renovation and is now a regional headquarters for DPR Construction, one of the largest privately-held companies in the United States.
North Davidson & 36th Street
Ascent purchased a retail block in the heart of NoDa in September 2016. Built in the 1940s, the 28,000 SF property is one of Charlotte's landmark retail, restaurant and nightlife destinations.
north side station
In January 2016, Ascent Real Estate Capital acquired a 33,000 SF adaptive reuse property in Uptown. Within 18 months, the property was strategically vacated, rebranded and fully leased to new tenants.
In 2017, Ascent Real Estate Capital and investment partners purchased an 8.5-acre tract of land near the intersection of South Tryon Street and Steele Creek Road. The partnership acquired two existing office buildings in the transaction and will develop 35,000 SF of new office, medical and commercial space. Steele Creek Children's Academy, a best-in-class daycare operator, anchors the development with a 16,000 SF campus that opened in January 2019.
20,000 SF retail property in Plaza-Midwood. Purchased in 2015, renovated and re-tenanted by Ascent principals and investors.
53,000 SF office/retail property acquired and successfully repositioned by Ascent principals and investment partners.