The Ascentia Story
Ascentia is deeply rooted in family tradition, courage, integrity and strong work ethics. Our founder, B M Vukovich, emigrated from Yugoslavia to Peru during World War II to escape the Communist takeover. To provide an opportunity for a better life for his family, he migrated to America in 1968 and began working as a Real Estate Broker in Colorado. He began investing in some of the real estate transactions he closed by contributing the commission he made as equity in the properties.
BM Vukovich formed Colorado Real Estate and Investment Company (CREICO) in 1974. In 1980, he had built up the investment base to over 1,200 manufactured home spaces and recruited his sons, Boris and Mirko, to help him run the properties. With the help of his sons, the Vukovich team took CREICO from those 1,200 spaces in Colorado and Wyoming to nearly 7,000 spaces and 1,400 rental homes across seven states in the Rocky Mountain west, North Carolina and Texas.
Shortly after the turn of the century, the manufactured housing sector of the multi-family real estate market crashed. CREICO had the majority of its holdings in Manufactured Housing Communities and battled through a difficult period that contained the failing of a number of consumer financing sources and the closing of the majority of manufactured home dealers and factories around the country. In response to this adversity, CREICO created an in-house finance company, Pelican Finance, to provide a way to increase occumanupancy to its manufactured home portfolio. Today, Pelican has grown to nearly $40 million in asset value, mostly in rental homes, and produces over $7 million in revenues annually. It is the vehicle that provides quality, affordable housing to working class people who call Ascentia communities home every day.
In 2011, CREICO reinvented itself and changed its name to Ascentia Real Estate Investment Company. Our purpose is to provide the best housing value that the working people of America can proudly call home. Our name is unique and draws its inspiration from the idea of always ascending, always rising above, and always uplifting those served. Ascentia is set apart as the company who seeks the highest possible standard and attainment in superior returns, performance, values and innovation.
We look to our past to remember the courage, integrity and service that drives our very core. We look to our future to see what is possible through our innovation, decisiveness and expertise. We are excited to continue to develop our story and make history all over again. And as always, we will be looking for ways to be improving and ascending in all we do.