Ascendant Development Launches With Focus On Class A Multifamily Communities in U.S.

By David Lemon.
Updated Aug 8, 2022

HOUSTON (PRWEB) August 08, 2022 - Two commercial real estate executives have teamed up to form a new multifamily development company, Ascendant Development (Ascendant). The new company will focus primarily on the development of luxury Class A multifamily communities in key U.S. markets.

Headquartered in Houston, Ascendant is a vertically integrated real estate development and construction firm whose principals bring an extensive track record, having developed over 4,500 units and $1 billion in real estate value in luxury residential multifamily housing communities. David Kulkarni and Richard Owen will serve as co-founders and partners in Ascendant and have a strategic plan to target specific high-growth areas across the U.S. Both men have partnered together in a variety of capacities since 2016.

'Our target markets for Ascendant include high-growth areas with strong organic fundamentals, including Houston, Dallas, Austin, Nashville, Phoenix, and Las Vegas,' said Kulkarni. 'We will utilize our extensive experience in each multifamily product type, including build-to-rent, garden, midrise, and high-rise, to pursue attractive risk-return investment opportunities for our partners and internal investment capital.'

Currently, Ascendant has a pipeline of over 3,600 units in various stages of development and is actively seeking additional development and partnership opportunities.

'The multifamily space continues to be in high demand for investors,' said Owen. 'For-sale inventory has plunged over 68% over the past three years, while prices have increased over 35%. Escalating home prices, limited inventory and rising mortgage rates will continue to push rental demand for multifamily housing over the coming decade, making it an ideal investment vehicle for our partners.'

To connect with the firm about prospective projects and partnership opportunities, please go to Ascendants website at http://www.ascendantdevco.com.

About Ascendant Development Ascendant Development is a vertically integrated real estate development and construction firm whose principals bring an extensive track record, having developed over 4,500 units and $1 billion in real estate value in the luxury multifamily space. Headquartered in Houston, Ascendant is actively seeking prospective projects and partnership opportunities across the U.S.