Griffis Residential Closes $407M Multifamily Investment Fund

by Nellie Day

DENVER — Griffis Residential has closed Griffis Premium Apartment Fund IV, a $407 million fund that was used to acquired four apartment communities throughout the West and Texas. The communities contain a total of 1,475 units. They are situated in the metro areas of Seattle, Denver, Los Angeles and Austin, Texas.

Fund IV iss targeting about $1 billion in multifamily apartment investments primarily in Colorado, Texas, Washington, Oregon and California. Griffis’ fourth private equity real estate investment fund pursued the same investment strategy as its predecessor funds: acquiring high-quality apartment communities and creating value through operational and capital improvements.

Target assets are typically of recent vintage, contain more than 200 units and have a total project cost ranging from $50 million to $150 million. Acquisitions in Fund IV are focused on markets benefiting from above-average wage growth and demographics that favor the apartment industry.

Shelter Rock Capital Advisors acted as the exclusive capital advisor to Griffis Premium Apartment Fund IV.

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