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Crec Real Estate And Rincon Capital Partners Acquire Ascent 1829

Apr 13, 2022•over 3 years ago

Acquiring Company

Rincon

Acquired Company

Ascent 1829

Professional ServicesTravel And TourismReal EstateFinancial Services

Description

CREC Real Estate, LLC ("CREC") and Rincon Capital Partners ("Rincon") today announced they have jointly acquired Ascent 1829 Apartments ("Ascent"), a 180-unit, Class B multifamily community located in North Phoenix, AZ. Terms of the transaction were not disclosed.

Company Information

Company

Rincon

Company

Crec

About

CREC Real Estate, LLC (CREC) is a private equity real estate investment firm. Based in Columbus, Ohio, the firm sponsors real estate investments through its private fund and private placement offerings and has more than $1 billion of real estate assets under management. Employing a value-add strategy, the firm specializes in multifamily investment in secondary cities throughout the United States. Since CREC's inception in 2001, it has closed on 57 investments across 19 states.

M&A Insights

Based on deal data
Integration timeline
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Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed