Draper & Kramer Acquires 307-Unit Griffis at Riata Apartments in Austin

AUSTIN, TEXAS — Chicago-based investment firm Draper & Kramer has acquired Griffis at Riata, a 307-unit apartment community that sits on a 17-acre site in Austin’s tech district. Built in 2017, Griffis at Riata comprises 195 one-bedroom units and 112 two-bedroom units across 17 buildings. Units range in size from 713 to 1,848 square feet and feature plank-style flooring, island kitchens with granite countertops, stainless steel appliances and individual washers and dryers. The amenity package consists of a pool, coworking spaces, resident lounge, two fitness centers, a dog park and outdoor grilling and dining areas. The seller was not disclosed. At the time of sale, the property, which will be rebranded as DK Riata, was 95 percent occupied.