A High-Growth Market, A Discounted Opportunity
Sunrise in Chandler was acquired for $46.5 million, representing a $13.5 million discount compared to the previous owner’s all-in basis. The financial-institution seller was over-leveraged and had invested $6 million into the asset after originally acquiring it for $54 million. Despite its strong performance, the property was being sold below the debt, allowing Ascent to secure a rare value-add opportunity in a high-demand market at a substantial discount.
Significant Upside Through Renovations and Operational Efficiencies
Though the property has strong in-place cash flow, only 11% of the units have been renovated, creating tremendous value-add potential. Ascent plans to execute a proven renovation strategy focused on modernizing units and enhancing exterior amenities, while leveraging its existing relationship with Sunrise, the experienced operator already managing the asset successfully.
Ascent will also benefit from a low-leverage, fixed 5-year agency loan, locking in stability in today’s uncertain interest rate environment.
“This is exactly the kind of opportunity we’ve been targeting—strong fundamentals, cash flow from Day One, and real upside through renovations,” said Dr. Pranay Parikh, President of Ascent Equity Group. “It’s rare to find a deal in today’s market that checks every box. We’re excited to bring this to our investor community.”
Chandler: A Thriving Hub for Innovation and Growth
Located in the East Valley of the Phoenix Metro, Chandler boasts one of the region’s most robust economies with major employers like Intel, PayPal, and Microchip Technologies. The city’s 3.6% unemployment rate, $133,000 average household income, and projected 10.7% population growth from 2020 to 2030 make it one of the most attractive markets for multifamily investment.
Ascent Equity Group continues to source best-in-class opportunities in strong markets, offering both common equity deals with upside potential upon sale and preferred equity structures that prioritize stabilized, consistent cash flow throughout the life of the investment. This diversified approach is designed to meet the varying goals of our investor community while maintaining a focus on tax-advantaged returns and capital preservation.
About Ascent Equity Group
Ascent Equity Group is a real estate syndication firm founded by three physician fathers to empower accredited investors, especially healthcare professionals, to achieve financial independence through passive real estate investing. With over $250 million in assets under management, Ascent specializes in identifying, acquiring, and operating high-performing multifamily, hospitality, and mixed-use assets across the United States.
Learn more: www.ascentequitygroup.com
