ParkRidge Six

Confluent Development formed a joint venture with Ascentris, a Denver-based real estate private equity firm, and made its first acquisition: ParkRidge Six, a five-story, 161,000-square-foot, Class A office building in Lone Tree. This acquisition reflects Confluent Development’s pursuit to revitalize office properties amid dynamic changes within the asset class and the ongoing evolution of today’s workforce.

Following our core business practice of maintaining disciplined entrepreneurialism throughout the market cycle, Confluent Development is strategically investing in office assets that have the potential to outperform as the future of the office is identified and the office markets stabilize. The decision to invest in ParkRidge Six, currently 100% leased, is a direct result of this vision.

This project signifies the first collaboration between Confluent Development and Ascentris, both aligned in their pursuit of office assets and locations that offer opportunities for strong interim cash flows at a significant discount to replacement cost. CBRE facilitated the acquisition.

The property boasts unobstructed mountain views, a generous parking ratio of 4.1/1.0K square feet, and various amenities including a third-party operated cafeteria, large format training rooms, a fitness center, small breakout rooms and outdoor amenity space. Located in the southeast submarket of Denver, ParkRidge Six provides convenient access to southeast Denver’s single-family housing via I-25 and C-470, as well as north to the Denver Tech Center and the Denver CBD via light rail.

ParkRidge Six captured the attention of Confluent Development and Ascentris as a desirable location for businesses and residents that continue to locate to the Lone Tree area. It is visible from I-25 and within a five-minute drive of Park Meadows, featuring over 200 stores and restaurants, as well as the RidgeGate master-planned community, including a Sprouts grocery store and various dining options.