Ivanhoé Cambridge and Shea Properties Announce Ascent Apartments Grand Opening

650-Unit Luxury Apartment Community in San José, California

San Jose, CA, April 27, 2016 --(PR.com)-- Partners Ivanhoé Cambridge and Shea Properties today announced the grand opening of Ascent, a 650-unit luxury apartment community rich with amenities and within walking distance of a light rail station and a thriving retail center.

The grand opening event will take place on location on Thursday, April 28. Sam Liccardo, Mayor of San José, will speak along with representatives from Ivanhoé Cambridge and Shea Properties.

“Ascent really sets the bar when it comes to resort-style living in South San José,” said Colm Macken, President and Chief Executive Officer of Shea Properties. “We couldn’t be more pleased with the positive response from the community and leasing has been brisk.”

Ascent is now open for immediate move-ins, and the community is currently 45% leased. Ascent’s apartment homes range in size from 704 square feet for a one-bedroom, one-bath to 1,575 square feet for a three-bedroom, two-bath plus mezzanine unit. The homes include mid-century modern influenced architecture with quartz countertops, deluxe stainless steel appliances and premier flooring, cabinetry and fine finishes throughout.

“We’re very proud to bring Ascent to life in a market we strongly believe in and in which we have invested significantly. It allows us to diversify our rental offerings in Silicon Valley,” said Sylvain Fortier, Global Chief Investment Officer and Executive Vice President, Residential, Hotels and Real Estate Investment Funds, Ivanhoé Cambridge. “We believe Ascent will redefine luxury living in the region. It’s an attractive property with an exceptional location.”

With a focus on outdoor entertainment, the community includes a luxurious, resort-style pool and spa, courtyard kitchens featuring professional appliances, BBQ stations, an authentic pizza oven, a 4,000 square foot state-of-the-art fitness center and a half-acre park on the green for residents to enjoy.

Ascent’s proximity to a wide array of jobs, transportation, entertainment and recreation helps meet the daily needs of its residents. Relevant amenities for the Silicon Valley lifestyle include high-tech gaming room, resident lounge, e-business center, unique office pods, and Wi-Fi throughout the pool and clubhouse areas.
Ascent is located in South San Jose across the street from Village Oaks Retail Center with more than 320,000 square feet of neighborhood retail, including Target, Safeway, restaurants and boutiques. The community is close to Hwy 85 with easy access to the Cottle Light Rail Station, Blossom Hill Caltrain and Kaiser Medical.

For pricing and more information on Ascent, visit www.sheaapartments.com/ascent.

About Ivanhoé Cambridge (ivanhoecambridge.com)
Ivanhoé Cambridge, a global real estate industry leader, invests in high-quality properties and companies in select cities around the world. It does so prudently with a long-term view to optimize risk-adjusted returns.

Founded in Quebec in 1953, Ivanhoé Cambridge has built a vertically integrated business across Canada. Internationally, the Company invests alongside key partners that are leaders in their respective markets.

Through subsidiaries and partnerships, Ivanhoé Cambridge holds interests in close to 500 properties, consisting primarily in office, retail, residential and logistics real estate.

Ivanhoé Cambridge held more than Cdn$55 billion in assets as at December 31, 2015. The Company is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada's leading institutional fund managers. For further information: ivanhoecambridge.com.

About Shea Properties (SheaProperties.com)
Shea Properties, headquartered in Aliso Viejo, California, is a diversified real estate company responsible for the acquisition, development, design, construction, leasing, and management of business parks, shopping centers, apartment communities and mixed-use environments. Since beginning operations in 1969, annual revenues and portfolio value have risen steadily. Shea Properties now owns and operates more than 7,000 apartment units and 5 million square feet of office, industrial, and retail space in California, Colorado, and Washington State. Currently, Shea Properties has more than $1 billion in development projects underway. In concert with sister company, Shea Homes, the team offers a range of capabilities matched by few others in the industry.

About Shea Apartment Communities (SheaApartments.com)
Shea Apartment Communities is a leading owner and operator of exceptional apartment communities providing award-winning customer service. Shea Apartment Communities owns and manages 19 apartment communities, representing more than 6,500 units throughout Colorado and the prime California regions of Orange County, San Diego, Los Angeles, East Bay and Silicon Valley.
Shea Properties
Chelsea Thompson