PE-backed Prescient announces second Denver apartment project

Prescient, a Colorado-based design and structure system platform, will partner again with Trammell Crow Company on an apartment complex in Denver. Prescient is backed by Kanusul Investments Pte. Ltd., a private equity fund based in Singapore.

PRESS RELEASE

ARVADA, Colo.–(BUSINESS WIRE)–Prescient, a Colorado-based software design, structural system manufacturing and installation company, announced today its second Denver partnership with Trammell Crow Company (TCC), this time for the Alexan 20th Street Station, a 12-story multi-family residential structure which will house 354 apartments in Denver. The structure is located at 20th Street Station on 1.14 acres at 2014 California St. in Denver.

This is Prescient’s second apartment construction project with TCC. Their first project, the Alexan Uptown apartments, is now pre-leasing at 1935 N. Logan St. in Denver. The new 287,000 square-foot 20th Street structure will include eight stories of Prescient framing on top of a four-story concrete podium.

“The Prescient system is ideal for multi-family projects up to 16 stories,” said Satyen Patel, chairman and CEO of Prescient. “Apartment buildings, especially in urban infill settings, are ideal for the Prescient system. We are more cost-efficient than either concrete or wood, and our ability to trim weeks out of typical construction schedules means minimized neighborhood disruption and a faster path to revenue for developers.”

Prescient has completed a number of multi-family apartment projects throughout the country, including Colorado, Illinois, North Carolina and Nebraska, with another 15 planned through 2018. Prescient structures consist of steel posts, trusses and panels that are custom-manufactured using Prescient’s design software then shipped for on-site assembly. The system is a viable option for multi-family housing projects because it minimizes disruption in the areas surrounding the construction zone and reduces the need for rework, helping owners meet timelines and budgets.

For more information, please visit http://www.prescientco.com/projects.

About Prescient

Prescient is a software design, structural system manufacturing and installation company with an innovative design platform that offers a faster, greener and more cost-effective alternative to conventional building structures. Prescient’s primary market segment is multi-unit buildings including apartments, student housing, senior living and hotels. The Prescient platform is:

• Durable: it will not rot, warp, shrink, split, crack or creep, and is resistant to moisture and insect infestation.
• Lightweight: it is easy to handle and is straight, uniform and consistent in quality.
• Strong: cold formed steel has the highest strength-to-weight ratio of any building material, so Prescient meets the highest seismic and wind load specifications with allowable stress values ranging from 21,000 to 33,000 pounds per square inch.
• Fire Resistant: the Prescient system is non-combustible, does not burn or contribute fuel to the spread of a fire and may help secure lower insurance rates.

The company is backed by Kanusul Investments Pte. Ltd., a private equity fund based in Singapore.