Latest Transactions: Ascension Properties, L.P. purchases two DFW commercial properties

Ascension Properties, L.P. recently purchased two properties, which is the result of a 1031 tax deferred exchange from the sale of Ascension Point Condominiums occurring in August 2014.

One of the newly acquired properties is an office building in North Fort Worth, built in 2004. Ascend Alliance LP sold the 20,100 sq ft building, located on I-35 in North Fort Worth. Marty Rader with DFW Realty Partners, LLC represented the seller in the transaction, and Steve Fithian with Sperry Van Ness / Visions Commercial represented the buyer, Ascension Properties, L.P.

“This property acquisition offers stability and value-added growth, especially considering its North Fort Worth location,” said Steve Fithian, managing director of Sperry Van Ness / Visions Commercial.

The other property is an industrial building located at 2420 Tarpley Road in Carrollton, TX. Sold by Beltwood I & II, Ltd. & Belmeade Tarpley, Ltd., the property is 58,700 square feet and was built in 1983. David Cook with Sperry Van Ness / David Cook Company represented the seller, and Steve Fithian with Sperry Van Ness / Visions Commercial represented the buyer, Ascension Properties, L.P.

“The Carrollton property is 100 percent leased to 22 tenants, and more than a quarter of those have occupied space in the property for more than 10 years,” Fithian said. “We are pleased to announce that Sperry Van Ness / Visions Commercial will be managing the property.”

Sperry Van Ness / Visions Commercial is a full-service real estate investment and Accredited Management Company in Fort Worth, specializing in brokerage, leasing, consulting and property management throughout the Dallas / Fort Worth area. It has been independently owned and operated since 1988. For more information, visit https://svntrinity.com.

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