News Archive




1/21/2016

Griffis Residential acquires 233 Apartment Units in Downtown Seattle

 

Denver, CO – January  21, 2016 – Griffis Residential, a Denver-based multifamily investment and management firm, announced today that it has acquired Berkshires on Elliott Apartments, a 233-unit Class-A multifamily community located in the downtown Seattle neighborhood of Belltown. With the acquisition, Griffis Residential owns and manages 7,750 apartment units in Colorado, Texas, Nevada and Washington. Additional target markets include Portland and the San Francisco metro area.

Effective immediately, Berkshires on Elliott Apartments has been renamed Griffis Belltown Seattle. For community and leasing information visit GriffisBelltown.com.

"We are looking forward to implementing our value-add strategies and service upgrades at Griffis Belltown," said Griffis Residential Co-CEO, Ian Griffis. "While the supply of apartments in Seattle is expanding, the long-term economic future of this innovation hub is appealing. Demographics continue to favor the apartment industry going forward." 

Griffis Belltown offers studio, one-, two- and three-bedroom units that feature in-unit washers and dryers, breakfast bars, fully-equipped kitchens, and gas fireplaces. Along with private patios and balconies, the rooftop community deck offers stunning panoramic views of downtown Seattle and the Puget Sound. Additional community amenities include garage parking and elevators, an outdoor fireplace, heated pool and spa, media rooms, and a fitness center.

Major area employers within approximately two miles from the community include Zulily's headquarters, the upcoming Expedia campus, and the sprawling Amazon world headquarters/main campus.

For property photos please visit http://griffisbelltown.com/community/Griffis-Belltown-apartments/visuals.

About Griffis Residential

With nearly $1.2 billion in multifamily assets under management, Griffis Residential is a multifamily real estate investment company that owns and manages 7,550 Class-A apartment units in Colorado, Texas, Nevada, and Washington. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents. For more information, visit GriffisResidential.com.


Forward-Looking Statements
Certain statements in this press release may be “forward-looking statements” that are not based on historical facts and that reflect current views and estimates about future economic circumstances, market conditions and opportunities and the performance of portfolio investments. Such statements involve known and unknown risks and uncertainties, including the ability to implement our investment program that could cause the actual performance to materially differ from any anticipated or projected performance expressed or implied by such forward-looking statements. Griffis Residential cannot guarantee future performance and the company does not undertake any obligation to update or revise any such statements.


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12/23/2015

Griffis Residential acquires Legends at Lowry Apartments

 

Denver, CO – December 23, 2015 – Griffis Residential, a Denver-based multifamily investment and management firm, announced today that it has acquired Legends at Lowry Apartments, a 150-unit Class-A multifamily community located within metro Denver's Lowry redevelopment area. With the Legends at Lowry acquisition, Griffis Residential owns and manages approximately 7,550 apartment units in Colorado, Texas, Nevada and Washington.

Effective immediately, Legends at Lowry Apartments has been renamed Griffis at Lowry. For community and leasing information visit GriffisLowry.com.

"Griffis at Lowry brings our metro Denver apartment portfolio to 12 communities," said Griffis Residential Co-CEO, Ian Griffis. "Denver continues to be one of the highest performing rental markets in the country with its robust job and wage growth. We look forward to enhancing this high quality community with our industry-leading management service and trademark 'It's about you' resident-centered experience." 

Built in 2011 to condo-quality finish standards, Griffis at Lowry features spacious unit sizes, nine-foot plus ceiling heights, a washer and dryer in every unit, and attached garages with select floor plans. Current property amenities include an outdoor pool and a modern clubhouse and fitness center. Planned improvements include a cyber cafe, coffee and tea service, pool enhancements, and an outdoor grilling station.

Griffis at Lowry is located just east of downtown Denver between Cherry Creek and Fitzsimons. The location allows residents access to abundant high-quality employment and retail/entertainment options and is situated approximately three miles from two incoming light rail stations. The I-225 Rail Line will be open for use in 2016, which will provide access via transfer to Downtown Denver, the Southeast Business Corridor and Denver International Airport. 

About Griffis Residential

Griffis Residential is a multifamily real estate investment company that owns and manages approximately 7,550 Class-A apartment units in Colorado, Texas, Nevada, and Washington. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents. For more information, visit GriffisResidential.com.

Forward-Looking Statements
Certain statements in this press release may be “forward-looking statements” that are not based on historical facts and that reflect current views and estimates about future economic circumstances, market conditions and opportunities and the performance of portfolio investments. Such statements involve known and unknown risks and uncertainties, including the ability to implement our investment program that could cause the actual performance to materially differ from any anticipated or projected performance expressed or implied by such forward-looking statements. Griffis Residential cannot guarantee future performance and the company does not undertake any obligation to update or revise any such statements.


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12/14/2015

Griffis Residential acquires Chez Moi Apartments in Austin

 

Denver, CO – December 14, 2015 – Griffis Residential, a Denver-based multifamily investment and management firm, announced today that it has acquired Chez Moi Apartments, a 384-unit Class-A multifamily community located in the north central area of Austin, Texas. With the Chez Moi acquisition, Griffis Residential owns and manages approximately 7,400 apartment units in Colorado, Texas, Nevada and Washington.

“Austin is one of the top innovation centers in the US with continued agglomeration of highly skilled workers and companies offering new, high-paying jobs,” said Griffis Residential Executive Chairman, Ian Griffis. “Strong wage growth combined with affordable housing creates headroom for the rental growth that results from our renovation and service strategies.”

Effective immediately, Chez Moi Apartments has been renamed Griffis at the Domain. For community and leasing information visit GriffisDomainAustin.com.

Griffis at the Domain is located in north central Austin in the heart of the city's tech corridor and within minutes of high-end retailers at The Domain Shopping Center. Situated near major highways, with convenient access to downtown, the University of Texas, and the Austin Capital Metro Light Rail, the community’s location is a top choice for Austin’s large corporate employers and is home to headquarters and substantial regional offices for IBM, Dell, Apple, Amazon, Samsung and National Instruments.

Built in 1997, the garden-style property offers one- to three-bedroom apartments with nine-foot ceilings, ranging in size from 644 to 1,367 square feet. The gated community features a comprehensive set of high-end amenities including a clubhouse, business center, fitness center, carports, garages, and a large pool with spa.

For property photos please visit http://griffisdomainaustin.com/community/Griffis-at-the-Domain-apartments/visuals.


About Griffis Residential
Griffis Residential is a multifamily real estate investment company that owns and manages approximately 7,400 Class-A apartment units in Colorado, Texas, Nevada, and Washington. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents. For more information, visit GriffisResidential.com.

Forward-Looking Statements
Certain statements in this press release may be “forward-looking statements” that are not based on historical facts and that reflect current views and estimates about future economic circumstances, market conditions and opportunities and the performance of portfolio investments. Such statements involve known and unknown risks and uncertainties, including the ability to implement our investment program that could cause the actual performance to materially differ from any anticipated or projected performance expressed or implied by such forward-looking statements. Griffis Residential cannot guarantee future performance and the company does not undertake any obligation to update or revise any such statements.


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9/1/2015

Griffis Residential acquires Riverton at Davis Springs Apartments

 

Denver, CO – September 1, 2015 – Griffis Residential, a Denver-based multifamily investment and management firm, announced today that it has acquired Riverton at Davis Springs Apartments, a 312-unit Class-A multifamily community located in the northwest area of Austin, Texas. Five of the firm’s eight acquisitions since November 2014 are located within the Austin metro area, bringing the company’s Austin portfolio to a total of 1,648 units. With the Riverton acquisition, Griffis Residential owns and manages approximately 7,000 apartment units in Colorado, Texas, Nevada and Washington.

“Austin is a prime metro area for the expansion of our multifamily portfolio due to its highly educated workforce and history of innovation leadership,” said Griffis Residential Executive Chairman, Ian Griffis. “Technology jobs drive wage growth and a host of other employment opportunities, which fuels demand for quality rental housing and drives long-term rent growth. Like all of our recent acquisitions in the Austin metro area, Riverton at Davis Springs aligns perfectly with our highly-focused multifamily investment strategy.”

Effective immediately, Riverton at Davis Springs Apartments has been renamed Griffis Parmer Lane. For community and leasing information please visit GriffisParmerLane.com.

Built in 2003, Griffis Parmer Lane is a Class-A apartment community located on a highly-visible 16.5 acre site along the rapidly growing Parmer Lane employment corridor. With close proximity to State Highway 45, Griffis Parmer Lane is just minutes from over six million square feet of office space and less than a mile from the Lakeline MetroRail and Capital Metro Express Bus service. The garden-style property offers one- to three-bedroom apartments with nine-foot ceilings, ranging in size from 610 to 1,264 square feet. The gated community features a comprehensive set of high-end amenities including a clubhouse, business center, fitness center, carports, garages, and a large pool with spa.

For property photos please visit http://griffisparmerlane.com/community/Griffis-Parmer-Lane-apartments/visuals.

About Griffis Residential
Griffis Residential is a multifamily real estate investment company that owns and manages approximately 7,000 Class-A apartment units in Colorado, Texas, Nevada, and Washington. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents. For more information, visit GriffisResidential.com.

Forward-Looking Statements
Certain statements in this press release may be “forward-looking statements” that are not based on historical facts and that reflect current views and estimates about future economic circumstances, market conditions and opportunities and the performance of portfolio investments. Such statements involve known and unknown risks and uncertainties, including the ability to implement our investment program that could cause the actual performance to materially differ from any anticipated or projected performance expressed or implied by such forward-looking statements. Griffis Residential cannot guarantee future performance and the company does not undertake any obligation to update or revise any such statements.


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8/12/2015

Griffis Residential completes fourth acquisition in Austin with purchase of Falcon Ridge Apartments

 

Denver, CO – August 12, 2015 – Griffis Residential, a Denver-based multifamily investment and management firm, announced today that it has acquired Falcon Ridge Apartments, a 296-unit Class-A multifamily community located in the vibrant South Congress area of Austin, Texas. With the Falcon Ridge acquisition, Griffis Residential currently owns and manages approximately 6,700 apartment units in Colorado, Texas, Nevada and Washington.

“Falcon Ridge Apartments is an institutional quality asset in a superior location near Austin’s employment-rich Central Business District,” said Griffis Residential Executive Chairman, Ian Griffis. “Falcon Ridge is a perfect choice for renters who are looking for close proximity to Austin’s urban employers and high-quality amenities at a more attractive price point than new midrise properties in the area.”

Effective immediately, Falcon Ridge Apartments has been renamed Griffis SoCo Austin. For community and leasing information please visit GriffisSoCoAustin.com. In tandem with the acquisition, Darin Shroff, who has been with Griffis Residential since 2013, has been promoted to Operations Manager for Griffis Residential’s portfolio of Austin properties. Previously, Mr. Shroff was Community Manager at Griffis North Metro, Griffis Residential’s largest multifamily community located in Northglenn, Colorado.

Built in 2000, Griffis SoCo Austin is a Class-A apartment community located adjacent to the picturesque Williamson Creek Greenbelt and within a 10-minute commute to Austin’s Central Business District (CBD) via IH-35. The CBD is anchored by more than 9 million square feet office space and The State of Texas – Austin’s largest employer with nearly 70,000 employees. The garden-style property offers one- to three-bedroom apartments with nine-foot ceilings, ranging in size from 590 to 1,256 square feet. The gated community features high-end amenities including a clubhouse, fitness center, reserved covered parking, two pools and a spa.

For property photos please visit http://griffissocoaustin.com/community/Griffis-SoCo-Austin-apartments/visuals.

About Griffis Residential

Griffis Residential is a multifamily real estate investment company that owns and manages approximately 6,700 Class-A apartment units in Colorado, Texas, Nevada, and Washington. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents. For more information, visit GriffisResidential.com.

Forward-Looking Statements

Certain statements in this press release may be “forward-looking statements” that are not based on historical facts and that reflect current views and estimates about future economic circumstances, market conditions and opportunities and the performance of portfolio investments. Such statements involve known and unknown risks and uncertainties, including the ability to implement our investment program that could cause the actual performance to materially differ from any anticipated or projected performance expressed or implied by such forward-looking statements. Griffis Residential cannot guarantee future performance and the company does not undertake any obligation to update or revise any such statements.

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7/22/2015

Griffis Residential enters Seattle metro market with purchase of Brookside Village Apartments

 

Griffis Residential, a Denver-based multifamily investment and management firm, announced today that it has acquired Brookside Village Apartments located south of Seattle in Auburn, Washington. The 177-unit Class-A multifamily community is the firm’s first acquisition in the Seattle metro area, following the June 2015 acquisition of Talavera Apartments in Austin, TX. With the Brookside Village acquisition, Griffis Residential currently owns and manages approximately 6,400 apartment units in Colorado, Texas, Nevada and Washington.

“Brookside Village is a well located asset in a dynamic submarket that is enjoying steady job growth,” said Griffis Residential Executive Chairman Ian Griffis. “The Seattle metro area is a ‘center of innovation’ with a robust, diversified economy that is generating above-average wage growth. We like the supply constraints in the Pacific Northwest apartment market and we are actively pursuing additional acquisitions as we work to expand our presence in the area.”

Effective immediately, Brookside Village Apartments has been renamed Griffis Seattle South at Brookside. For community and leasing information please visit GriffisSeattleSouth.com.

Built in 2003, Griffis Seattle South is a Class-A apartment community located 25 minutes south of downtown Seattle on a tranquil 17-acre site along a meandering stream and greenbelt with convenient access to I-5, Highway 99, and a host of high-quality Kent Valley employers. The garden-style property offers two- and three-bedroom apartments with nine-foot ceilings, ranging in size from 1,014 to 1,165 square feet. The gated community features high-end amenities including a clubhouse, pool and spa, fitness center, sport courts, carports and garages.

For property photos please visit http://griffisseattlesouth.com/community/Griffis-Seattle-South-apartments/visuals

About Griffis Residential

Griffis Residential is a multifamily real estate investment company that owns and manages approximately 6,400 Class-A apartment units in Colorado, Nevada, Texas and Washington. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents. For more information, visit GriffisResidential.com.

Forward-Looking Statements

Certain statements in this press release may be “forward-looking statements” that are not based on historical facts and that reflect current views and estimates about future economic circumstances, market conditions and opportunities and the performance of portfolio investments. Such statements involve known and unknown risks and uncertainties, including the ability to implement our investment program that could cause the actual performance to materially differ from any anticipated or projected performance expressed or implied by such forward-looking statements. Griffis Residential cannot guarantee future performance and the company does not undertake any obligation to update or revise any such statements.

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7/6/2015

Griffis Residential closes third private real estate investment fund with more than $250 million in capital

  

Denver, CO – July 6, 2015 – Griffis Residential, a Denver-based multifamily investment and management firm, announced today the final closing of its third private real estate investment fund (“Fund III”). Fund III successfully raised over $250m in capital for investment in high-quality apartments by the Fund and affiliates. To date, Fund III has acquired five apartment communities comprising 1,512 units in the Austin and Denver metro areas, and currently has additional assets under contract including its first pending acquisition in the Seattle metro area.

"We are very pleased with the strong support for Fund III from our long-standing investors as well as the significant participation from new investors," said Ian Griffis, Executive Chairman and co-founder of Griffis Residential. "Acquisitions in Fund III are off to a strong start and our dedicated acquisitions team is working diligently to identify new assets that meet our highly-focused investment strategy.”

Fund III investments are based on a "core plus" investment thesis – investing in high quality apartment communities that will benefit from operational and capital improvements. Target assets are typically of recent vintage, contain 150+ units, and have a total project cost ranging from $30m - $100+m. Acquisitions in Fund III are focused on markets where there are a combination of favorable supply/demand dynamics, attractive demographics, appealing lifestyles, and sound economic fundamentals.

About Griffis Residential
Griffis Residential is a multifamily real estate investment firm that owns and manages more than 6,000 Class-A apartment units in Colorado, Nevada and Texas. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents. Please visit GriffisResidential.com for more information.

General Disclaimers
Nothing presented herein is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Griffis Residential. Offers and sales will be made only pursuant to a confidential private placement memorandum (the “Memorandum”), which describes the terms and risks of an investment. The Memorandum, including the risk factors and potential conflicts of interest described therein, and other governing documents should be read in their entirety and carefully prior to investment. The information contained herein is qualified in its entirety by reference to such Memorandum.

Information provided reflects Griffis Residential’s views as of a particular time. Such views are subject to change at any point and Griffis Residential shall not be obligated to provide notice of any change. Any forward-looking statements or forecasts are based on assumptions and actual results are expected to vary from any such statements or forecasts. No reliance should be placed on any such statements or forecasts when making any investment decision. While Griffis Residential has used reasonable efforts to obtain information from reliable sources, we make no representations or warranties as to the accuracy, reliability, or completeness of third-party information presented herein.

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6/10/2015

Griffis Residential acquires Talavera Apartments in Austin, Texas
Acquisition marks firm’s third transaction in Austin metro area since 4Q2014

  

Denver, CO – June 10, 2015 – Griffis Residential, a Denver-based multifamily investment and management firm, announced today that it has acquired Talavera Apartments located in the northwest area of Austin, Texas. The 232-unit Class-A multifamily community is the firm’s third acquisition in the Austin metro area following the acquisition of a total 808 apartment units in November 2014 and January 2015. Griffis Residential now owns and manages 6,198 apartment units in Colorado, Nevada and Texas.

“Our expansion in Austin is motivated by the area’s strong technology job growth, which is helping drive apartment demand and rent growth,” said Griffis Residential Executive Chairman Ian Griffis. “As we remain open to additional opportunities in Austin, we plan to continue to expand and diversify our portfolio in areas that exhibit the positive economic forces and demographic trends that align with our investment strategy.”

Effective immediately, Talavera Apartments has been renamed Griffis Lakeline Station, underscoring Griffis Residential’s commitment to bringing the community up to the company’s high resident experience standards. For community and leasing information please visit www.GriffisLakelineStation.com.

Built in 2001, Griffis Lakeline Station is a Class-A apartment community located on a highly visible 12-acre site in the fast-growing SH-45 employment corridor of Northwest Austin. The property has direct access from the SH-45 frontage road and is located near the Lakeline MetroRail station and the 1.1 milllion square foot Lakeline Mall. The garden-style property offers eight floor plans, from one to three bedrooms, ranging in size from 692 to 1,436 square feet. The community features high-end amenities including a clubhouse, business center, fitness center, a multi-level pool with spa as well as gated access, carports and direct-access garages.

For property photos please visit http://griffislakelinestation.com/community/Griffis-Lakeline-Station-apartments/visuals.
 

About Griffis Residential

Griffis Residential is a multifamily real estate investment company that owns and manages more than 6,000 Class-A apartment units in Colorado, Nevada and Texas. With a property portfolio valued at approximately $950 million, Griffis Residential is the second largest institutional quality Class-A multifamily apartment owner in Colorado. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents.
 

Forward-Looking Statements

Certain statements in this press release may be “forward-looking statements” that are not based on historical facts and that reflect current views and estimates about future economic circumstances, market conditions and opportunities and the performance of portfolio investments. Such statements involve known and unknown risks and uncertainties, including the ability to implement our investment program, that could cause the actual performance to materially differ from any anticipated or projected performance expressed or implied by such forward-looking statements. Griffis Residential cannot guarantee future performance and the company does not undertake any obligation to update or revise any such statements.
 

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4/13/2015

Griffis Residential named top Colorado workplace for second year

 

Denver, CO – April 13, 2015 – Griffis Residential, a Denver-based multifamily investment and management firm, announced today that it has been chosen for the second year in a row as a Top Colorado Workplace by the Denver Post. The Top Workplaces for 2015 were determined based solely on employee feedback surveys conducted by WorkplaceDynamics, LLP, a research firm that specializes in organizational health and employee engagement.

Griffis Residential employs more than 150 team members as a vertically integrated real estate investment and management firm. With on-site management of its 16 Class-A multifamily properties, the company has built its business on the basic belief that quality living is simple – cultivate a guest-centered experience, and a residence becomes a home.

“We are thrilled to be recognized as a Top Workplace for a second year in a row,” said Ian Griffis, Chairman of Griffis Residential. “We strive to bring together the best talent in our industry and strongly believe that the high caliber of our team is a key factor to driving value for our stakeholders. Furthermore, when the best and brightest individuals challenge each other to do their best every day, advancement opportunities emerge in a fun and motivating place to work.”

Monique Wasson, who has been with Griffis Residential since 2009 and is currently an Operations Support Specialist, commented on working for Griffis Residential, “Every day brings a new challenge and new faces. I love the people I work with and Griffis Residential as a company. Standards and expectations are high and I feel that it makes me a better person.”

The Denver Post published the complete list of Top Workplaces on April 12, 2015. For more information about the Top Workplaces lists and WorkplaceDynamics, please visit www.topworkplaces.com and www.workplacedynamics.com

About Griffis Residential

Griffis Residential is a multifamily real estate investment company that owns and manages approximately 6,000 Class-A apartment units in Colorado, Nevada and Texas. With a property portfolio valued at approximately $900 million, Griffis Residential is the second largest institutional quality Class-A multifamily apartment owner in Colorado. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents. For more information please visit www.griffisresidential.com.

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1/28/2015

Griffis Residential approaches 6,000 units with acquisition of
Avendaro at Canyon Creek Apartments in Austin, Texas

Acquisition marks firm’s second transaction in Austin metro area since 4Q2014 


Denver, CO – January 28, 2015 – Griffis Residential, a Denver-based multifamily investment and management firm, announced today that it has acquired the Avendaro at Canyon Creek Apartments located in the northwest Canyon Creek area of Austin, Texas. The 296-unit Class-A multifamily community is the firm’s second acquisition in the Austin metro area following the acquisition of 512 apartment units in Round Rock’s La Frontera business and housing center in November 2014. Griffis Residential now owns and manages 5,966 apartment units in Colorado, Nevada and Texas.

“Our continued interest in the Austin metro market is bolstered by the area’s strong multifamily submarket and employment growth,” said Griffis Residential CEO David Birnbaum. “Our priority now is to focus on increasing operational efficiencies, completing targeted capital improvements, and building our trademark management culture at the properties to create value for our investors and residents.”

Effective immediately, Avendaro at Canyon Creek has been renamed Griffis Canyon Creek, underscoring the firm’s commitment to brand excellence and delivering the best customer experience in the multifamily industry. For community and leasing information please visit www.GriffisCanyonCreek.com.

Built in 2004, Griffis Canyon Creek is a Class-A apartment community in the northwest area of Austin, Texas located on Highway 620 bordering the Balcones Canyonland Preserve.  With its convenient access to outdoor recreation as well as major employment and retail centers, Griffis Canyon Creek provides an exceptional lifestyle choice for Austin’s upwardly mobile workforce. The garden-style property offers eight floor plans, from one- to three-bedrooms, ranging in size from 726 to 1,273 square feet. The community features high-end amenities including a clubhouse, business center, fitness center, media room, and a heated pool with spa as well as gated access and available carports. 

About Griffis Residential


Griffis Residential is a multifamily real estate investment company that owns and self manages nearly 6,000 Class-A apartment units in Colorado, Nevada and Texas. With a property portfolio valued at approximately $900 million, Griffis Residential is the second largest institutional quality Class-A multifamily apartment owner in Colorado. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents.

For more information visit www.griffisresidential.com, or contact Griffis Residential Chairman, Ian Griffis (igriffis@griffisresidential.com); CEO, David Birnbaum (david@griffisresidential.com); or COO, Tom Barta (tbarta@griffisresidential.com).

Forward-Looking Statements


Certain statements in this press release may be “forward-looking statements” that are not based on historical facts and that reflect current views and estimates about future economic circumstances, market conditions and opportunities and the performance of portfolio investments. Such statements involve known and unknown risks and uncertainties, including the ability to implement our investment program, that could cause the actual performance to materially differ from any anticipated or projected performance expressed or implied by such forward-looking statements. Griffis Residential cannot guarantee future performance and the company does not undertake any obligation to update or revise any such statements. 

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1/22/2015

Griffis Residential acquires
Remington West Apartments for $44.3 million


Denver, CO – January 22, 2015 – Griffis Residential, a Denver-based multifamily investment and management firm, announced today that it has acquired the Remington West Apartments in Westminster, Colorado for $44.3 million. The 264-unit acquisition brings the number of apartment units that Griffis Residential owns and manages in Colorado, Nevada and Texas to 5,670.

Effective immediately, Remington West Apartments has been renamed Griffis Westminster Center to reflect the community’s proximity to the pending transformation of the former Westminster Mall into a vibrant, mixed-use urban downtown hub in the heart of Westminster. For community and leasing information please visit GriffisWestminsterCenter.com.

“Griffis Westminster Center holds tremendous promise within the Griffis Residential multifamily portfolio,” said Griffis Residential CEO David Birnbaum. “With close proximity to the emerging Bus Rapid Transit System and the Westminster Center redevelopment project, we believe the community will be in high demand among Westminster’s well-educated workforce for years to come. When these positive property attributes are combined with planned property improvements and our management initiatives, Griffis Westminster Center will be in a prime position to drive superior financial results over the long term.”

Built in 1996, Griffis Westminster Center is a Class-A apartment community in Westminster, Colorado located west of CO Interstate 25 on West 90th Avenue. With its convenient location near Denver’s Northwest Corridor along US Highway 36, Griffis Westminster Center is ideally situated among the highest concentration of software, computer, technology and photonics companies in the US. The garden-style property offers six floor plans, from one- to three-bedrooms, ranging in size from 672 to 1,180 square feet. The community offers high-end amenities including a clubhouse, business center, fitness center, media room, and a heated pool and spa amid an advantageous location in a park like setting.

About Griffis Residential

Griffis Residential is a multifamily real estate investment company that owns and self manages more than 5,600 Class-A apartment units in Colorado, Nevada and Texas. With a property portfolio valued at approximately $850 million, Griffis Residential is the second largest institutional quality Class-A multifamily apartment owner in Colorado. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents.

For more information visit www.griffisresidential.com, or contact Griffis Residential Chairman, Ian Griffis (igriffis@griffisresidential.com); CEO, David Birnbaum (david@griffisresidential.com); or COO, Tom Barta (tbarta@griffisresidential.com).

Forward-Looking Statements

Certain statements in this press release may be “forward-looking statements” that are not based on historical facts and that reflect current views and estimates about future economic circumstances, market conditions and opportunities and the performance of portfolio investments. Such statements involve known and unknown risks and uncertainties, including the ability to implement our investment program, that could cause the actual performance to materially differ from any anticipated or projected performance expressed or implied by such forward-looking statements. Griffis Residential cannot guarantee future performance and the company does not undertake any obligation to update or revise any such statements.

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1/7/2015

Griffis Residential sells Sagebrook Apartments in
Colorado Springs, Colorado for $48.8 million

Sale price reflects a $12.6 million increase in value since 2008

Denver, CO – January 7, 2015 – Griffis Residential, a Denver-based multifamily investment and management firm, announced today that it has sold Sagebrook Apartments (“Sagebrook”) located in northeast Colorado Springs, Colorado for $48.8 million. The sale price of the 314-unit Class-A community reflects an appreciation in value of $12.6 million from the acquisition price of $36.2 million in July of 2008. The Sagebrook transaction follows the sale of The Oasis Apartments (“Oasis”) in December 2014 for $40 million. The sale price of Oasis reflected an increase in value of $13.0 million over a nine-year holding period.

“Despite acquiring Sagebrook at the onset of the Great Recession in 2008, the property performed among the best in the Griffis Residential portfolio,” said Griffis Residential Chairman Ian Griffis. “We attribute the success of our Sagebrook and Oasis investments to our asset class specialization and intense focus on management service, which we believe helps drive superior financial results through the best and worst of market cycles.”

Griffis Residential’s recent disposition of 566 apartment units in Colorado Springs follows the combined acquisition of 710 units in Lafayette, CO and Austin, TX in November 2014. The company’s acquisition in the Austin metro area is part of a planned market expansion beyond the firm’s existing portfolio of premium multifamily communities located in Colorado and Nevada. Griffis Residential anticipates further unit increases throughout 2015 as the company continues to seek multifamily acquisitions in its target markets.

About Griffis Residential

Griffis Residential is a multifamily real estate investment company that owns and manages more than 5,400 Class-A apartment units in Colorado, Nevada and Texas. With a property portfolio valued at approximately $800 million, Griffis Residential is the second largest institutional quality Class-A multifamily apartment owner in Colorado. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents.

For more information visit www.griffisresidential.com, or contact Griffis Residential Chairman, Ian Griffis (igriffis@griffisresidential.com); CEO, David Birnbaum (david@griffisresidential.com); or COO, Tom Barta (tbarta@griffisresidential.com).

Disclosures

Nothing presented herein is intended to constitute investment advice, and under no circumstances should any information provided herein be considered an offer to sell or a solicitation of an offer to buy any security. Information provided reflects Griffis Residential’s views as of a particular time. Such views are subject to change at any point and Griffis Residential shall not be obligated to provide notice of any change. 

The transactions referenced herein do not represent all of the investments made or recommended by Griffis Residential, and it should not be assumed that any current or future investments will equal the performance of the transactions described herein. It should be specifically noted that not all transactions entered into by Griffis Residential will be profitable. No guarantee of investment performance is being provided and no inference to the contrary should be made. Past performance is not indicative of future results.

Forward-Looking Statements
Certain statements in this press release may be “forward-looking statements” that are not based on historical facts and that reflect current views and estimates about future economic circumstances, market conditions and opportunities and the performance of portfolio investments. Such statements involve known and unknown risks and uncertainties, including the ability to implement our investment program, that could cause the actual performance to materially differ from any anticipated or projected performance expressed or implied by such forward-looking statements. Griffis Residential cannot guarantee future performance and the company does not undertake any obligation to update or revise any such statements.

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12/1/2014

Griffis Residential acquires 512-unit Class-A
apartment community in Austin, Texas

Entrance into Austin metro area expands property portfolio across three states

Denver, CO – December 1, 2014 – Griffis Residential, a Denver-based multifamily investment and management firm, announced today that it has acquired The Orchard Apartments, a 512-unit Class-A multifamily community located within the Austin, Texas metro area in Round Rock’s vibrant La Frontera commercial business, retail, and housing center. The acquisition brings the number of Class-A multifamily units that Griffis Residential owns and manages to 5,658. The Orchard is Griffis Residential’s first acquisition in the Austin metro area and is part of a planned market expansion beyond the firm’s existing portfolio of premium multifamily communities located in Colorado and Nevada.

In tandem with the acquisition, the company announced that The Orchard Apartments has been renamed Griffis La Frontera. The name change conveys Griffis Residential’s persistent brand excellence, impeccable customer service, and its prime location in the La Frontera commercial park. For community and leasing information please visit www.GriffisLaFrontera.com.

“Our move into the Austin metro area underscores our commitment to expand into new markets that align with our property portfolio and investment objectives,” said Griffis Residential CEO David Birnbaum. “We believe Griffis La Frontera is well positioned to capitalize on significant growth in rental demand due to Austin’s abundance of high quality jobs and its overall appeal to our target resident demographic. When these positive market dynamics are combined with our proven community management processes and capital improvement program, we feel we have an excellent opportunity to drive results for our investors.”

Built in 1997, Griffis La Frontera is a Class-A apartment community in Austin, Texas that is anchored by the La Frontera master-planned commercial park, the Forest Park Medical Center, scheduled to open December 2014, and the world headquarters of Dell Computer. Located near the intersection of IH-35, SH-45 and Loop 1 (MoPac Expressway), The Orchard benefits from outstanding visibility and is conveniently situated near three major highways that serve as conduits for growth in the Austin metro area. The garden-style property offers six floor plans, from one- to three-bedrooms, ranging in size from 640 to 1,232 square feet. The community also features high-end amenities including a clubhouse, business center, fitness center, and two heated pools as well as detached garages and carports. In connection with the acquisition, Griffis Residential plans to make community and apartment unit upgrades as part of its targeted capital improvement program.

Effective immediately, Alli Martin, who has been with Griffis Residential since 2010, has been appointed community manager for Griffis La Frontera. Ms. Martin is responsible for day-to-day management of the community and fostering the Griffis Residential guest-centered culture, which places a top priority on delivering the highest quality guest experience in the multifamily apartment industry.

About Griffis Residential
Griffis Residential is a multifamily real estate investment company that owns and self manages more than 5,000 Class-A apartment units in Colorado, Nevada and Texas. With a property portfolio valued at more than $750 million, Griffis Residential is the second largest institutional quality Class-A multifamily apartment owner in Colorado. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents.

For more information visit www.griffisresidential.com, or contact Griffis Residential Chairman, Ian Griffis (igriffis@griffisresidential.com); CEO, David Birnbaum (david@griffisresidential.com); or COO, Tom Barta (tbarta@griffisresidential.com).

Forward-Looking Statements
Certain statements in this press release may be “forward-looking statements” that are not based on historical facts and that reflect current views and estimates about future economic circumstances, market conditions and opportunities and the performance of portfolio investments. Such statements involve known and unknown risks and uncertainties, including the ability to implement our investment program, that could cause the actual performance to materially differ from any anticipated or projected performance expressed or implied by such forward-looking statements. Griffis Residential cannot guarantee future performance and the company does not undertake any obligation to update or revise any such statements.

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11/19/2014

Griffis Residential acquires 208-unit Class-A apartment
community in Lafayette, Colorado for $39.9 million


Denver, CO – November 19, 2014 – Griffis Residential, a Denver-based multifamily investment and management firm, announced today that it has acquired Strathmore Park Apartments, a 208-unit Class-A multifamily community located in the metro-Denver community of Lafayette, Colorado. The $39.9 million acquisition brings the number of Class-A multifamily units that Griffis Residential owns and manages to 5,146.

“As demonstrated by our acquisitions over the past 12 months, we remain active in our established markets of Denver and Las Vegas, while we pursue investment opportunities in other compelling markets,” said Griffis Residential CEO David Birnbaum. “Amid Denver’s falling vacancy rates, we anticipate apartment unit absorption to remain above long-term historical averages into the foreseeable future. These positive market forces will keep the pursuit of investment opportunities within the Denver metro area on our radar for some time to come.”

Griffis Residential also announced that Strathmore Park Apartments has been renamed Griffis Lafayette Station. The name change reflects Griffis Residential’s intent to bring the property in line with the firm’s brand and dedication to the “It’s About You” culture. For community and leasing information please visit www.GriffisLafayetteStation.com.

Built in 1999, Griffis Lafayette Station is a Class-A apartment community in Lafayette, Colorado located adjacent to the Lafayette Park-n-Ride. The convenient access to public transportation puts major employment centers along the Highway 36 corridor to Boulder within easy reach of the community. The community also benefits from excellent school options within the Boulder Valley School District and is surrounded by opportunities for outdoor recreation including Coal Creek Trail and Waneka Lake Park.

The garden-style property offers seven floor plans, from one to three bedrooms, ranging in size from 701 to 1,359 square feet. The community also features high-end amenities including a clubhouse, business center, fitness center, heated pool and a laundry center in addition to detached garages, a private park and other facilities for outdoor recreation.  In connection with the acquisition, Griffis Residential plans to make community and apartment unit upgrades as part of its targeted capital improvement program.

For property photos please visit http://griffislafayettestation.com/community/Griffis-Lafayette-Station-apartments/visuals.

About Griffis Residential
Griffis Residential is a multifamily real estate investment company that owns and self manages more than 5,000 Class-A apartment units in Colorado and Nevada. With a property portfolio valued at more than $750 million, Griffis Residential is the second largest institutional quality Class-A multifamily apartment owner in Colorado. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents.

For more information visit www.griffisresidential.com, or contact Griffis Residential Chairman, Ian Griffis (igriffis@griffisresidential.com); CEO, David Birnbaum (david@griffisresidential.com); or COO, Tom Barta (tbarta@griffisresidential.com).

Forward-Looking Statements
Certain statements in this press release may be “forward-looking statements” that are not based on historical facts and that reflect current views and estimates about future economic circumstances, market conditions and opportunities and the performance of portfolio investments. Such statements involve known and unknown risks and uncertainties, including the ability to implement our investment program, that could cause the actual performance to materially differ from any anticipated or projected performance expressed or implied by such forward-looking statements. Griffis Residential cannot guarantee future performance and the company does not undertake any obligation to update or revise any such statements.

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9/16/2014

Griffis Residential Renames Two Las Vegas Apartment Communities

Denver, CO – September 16, 2014 – Griffis Residential, a Denver-based multifamily investment and management firm with properties in Colorado and Nevada, has renamed the company’s two Las Vegas area premium apartment communities.

The Wellington Apartments, located at 9550 West Sahara Avenue in Las Vegas, is now Griffis Summerlin South. The 332-unit community benefits from excellent access to the I-215 beltway, top-rated schools, the Red Rock Canyon area, and shopping and entertainment centers including Downtown Summerlin. Offering one to three-bedroom floor plans ranging from 759 to 1,322 square feet, Griffis Summerlin South also boasts high-end amenities including a resort-style swimming pool and spa, a large clubhouse, and state of the art fitness and business centers. For community and leasing information visit www.GriffisSummerlinSouth.com.

The company has also renamed Quest Apartments to Griffis Cornerstone Park. Located at 210 Quest Park Street in Henderson, Nevada, Quest Apartments is a 310-unit community that offers one- to three-bedroom apartments ranging from 739 to 1,258 square feet. The property also features high-end amenities typical of Griffis Residential communities and is close to local employment centers, the region’s best schools, outdoor recreation, and is 15 minutes from the Las Vegas Strip. For community and leasing information visit www.GriffisCornerstonePark.com.

To complement the name changes, the communities will continue to undergo interior and exterior upgrades throughout 2014 that will bring the properties in line with the quality exhibited by the entire Griffis Residential multifamily portfolio.

About Griffis Residential
Griffis Residential is a multifamily real estate investment company that owns and self manages more than 5,000 Class-A apartment units along the Front Range of Colorado and Nevada. With a property portfolio valued at more than $700 million, Griffis Residential is the second largest institutional quality Class-A multifamily apartment owner in Colorado. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents.

For more information visit www.griffisresidential.com, or contact Griffis Residential Chairman, Ian Griffis (igriffis@griffisresidential.com); CEO, David Birnbaum (david@griffisresidential.com); or COO, Tom Barta (tbarta@griffisresidential.com).

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6/17/2014

Griffis Residential renames Pinnacle at The Creek
Apartments to Griffis Centennial Park

Renaming commemorates completion of extensive community improvements

Denver, CO – June 17, 2014 – Griffis Residential, a Denver-based multifamily investment and management company, has changed the name of Pinnacle at the Creek Apartments, located on South Parker Road in Centennial, Colorado, to Griffis Centennial Park. The renaming commemorates the completion of extensive capital improvements at the community including premium unit upgrades, a complete redesign of the community clubhouse and fitness center, fresh exterior paint, and a host of additional upgrades representative of Griffis Residential communities.

The Pinnacle at the Creek is the latest apartment community in the company’s portfolio to make a brand name change, signifying Griffis Residential’s continued growth and activity within the Colorado real estate market. Griffis Residential acquired the 216-unit, Class-A community in late 2012 and has since made approximately $1 million in capital improvements to bring the quality of the community in line with the rest of its approximate 5,000-unit portfolio.

“At Griffis Residential, we believe that high-impact improvements attract new residents and enhance the overall resident experience,” said Griffis Residential CEO, David Birnbaum. “As part of our capital improvement program, we repaint our communities in bold attractive colors to increase drive-by curb appeal as well as inject new life and vibrancy into the community. When we add meticulously maintained grounds, complete with contemporary styled clubhouses, fitness centers and premium apartment units, potential and existing residents alike get a sense our strong underlying commitment to creating the highest-quality customer experience. The name change from Pinnacle at the Creek to Griffis Centennial Park underscores the transformation of the property to a Griffis Residential class community,” Birnbaum concluded.

The community continues to be a perfect fit for Griffis Residential’s investment strategy with its prime location near major employment centers including Denver Tech Center and convenient access to Cherry Creek State Park, highly regarded schools, and both DIA and the Centennial Airport. For community and leasing information visit www.GriffisCentennialPark.com.

About Griffis Residential

Griffis Residential is a multifamily real estate investment company that owns and manages more than 5,000 Class-A multifamily units along the Front Range of Colorado and Nevada. Since the beginning of 2012, Griffis Residential has completed nearly $300 million in apartment acquisitions and is the second largest owner/operator of Class-A apartments in Colorado. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents. For more information visit www.griffisresidential.com, or contact Griffis Residential Chairman, Ian Griffis (igriffis@griffisresidential.com); CEO, David Birnbaum (david@griffisresidential.com); or COO, Tom Barta (tbarta@griffisresidential.com).

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5/1/2014

Griffis Residential acquires 288-unit Class-A
apartment community in Aurora, Colorado for $40.8 million


Denver, CO – May 1, 2014 – Griffis Residential, a Denver-based multifamily investment and management company, today announced that it has acquired City Lights apartments, a 288-unit multifamily Class-A community located in Aurora, Colorado near the Fitzsimons Medical Campus. The $40.8 million acquisition of City Lights brings the number of Class-A multifamily units that Griffis Residential owns and manages to 5,178. The acquisition of City Lights follows on the heels of the company’s January 2014 acquisition of The Wellington apartments, a 332-unit community in Las Vegas.

“City Lights apartments presents a compelling opportunity to apply our time-tested multifamily property investment strategy,” said Griffis Residential CEO David Birnbaum. “We see a bright future for City Lights due to its proximity to the strong labor market within the Fitzsimons Medical Campus and easy access to DIA and downtown Denver via the expanding public transit system adjacent to the property. Bolstered by a waiting list at City Lights for premium apartment units, we also have a ripe opportunity to implement our targeted capital improvement program, which is one of the cornerstones of our overall investment strategy.”

The City Lights transaction was completed in a joint venture with PCCP, LLC, an integrated real estate finance and investment management firm.  PCCP provides equity and debt capital for opportunistic middle-market real estate investments throughout the United States.  The acquisition of City Lights marks the fifth transaction that Griffis Residential has completed in partnership with PCCP.

In tandem with the acquisition, the company announced that City Lights will be renamed Griffis Fitzsimons South. The name change conveys Griffis Residential’s persistent brand excellence, impeccable customer service, and its prime location near the Fitzsimons Medical Campus. Further, the property renaming highlights the exceptional resident experience that promotes an “It’s about you,” customer-centric culture.

Built in 2008, Griffis Fitzsimons South is a Class-A apartment community in Aurora, Colorado that is conveniently located adjacent to the future 2nd and Abilene Street light rail station and just 2.5 miles from the Fitzsimons Medical Campus. The community also benefits from close proximity to Denver International Airport, downtown Denver, and the I-70 industrial corridor. The garden-style property offers six floor plans, from one- to three-bedrooms, ranging in size from 637 to 1,439 square feet. The community also features high-end amenities including direct access garages and car ports as well as a clubhouse, business center, fitness center, heated pool and spas, and a conference room.

Effective immediately, Marliss Hall, who has been with Griffis Residential since 2007, has been appointed community manager for Griffis Fitzsimons South. Ms. Hall is responsible for day-to-day management of the community and fostering the Griffis Residential guest-centered culture, which places a top priority on delivering the highest quality guest experience in the multifamily apartment industry.

About Griffis Residential
Griffis Residential is a multifamily real estate investment company that owns and manages more than 5,000 Class-A multifamily units along the Front Range of Colorado and Nevada. Since the beginning of 2012, Griffis Residential has completed nearly $300 million in apartment acquisitions and is the second largest owner / operator of Class-A apartments in Colorado. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents. For more information visit www.griffisresidential.com, or contact Griffis Residential Chairman, Ian Griffis (igriffis@griffisresidential.com); CEO, David Birnbaum (david@griffisresidential.com); or COO, Tom Barta (tbarta@griffisresidential.com).

About PCCP, LLC
PCCP, LLC is a premier real estate finance and investment management firm focused on commercial real estate debt and equity investments.  PCCP has over $6 billion in assets under management on behalf of institutional investors.  With offices in New York, San Francisco, Sacramento and Los Angeles, PCCP has a proven track record for providing real estate owners and investors with a broad range of funding options to meet capital requirements.  PCCP originates and services each of its investments, ensuring that clients benefit from added value and outstanding investment returns.  Since its inception in 1998, PCCP has successfully raised, invested and managed approximately $9 billion of institutional capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures.  PCCP continues to seek investment opportunities with proven operators seeking fast and reliable capital. Learn more about PCCP at www.pccpllc.com.

Forward-Looking Statements
Certain statements in this press release may be “forward-looking statements” that are not based on historical facts and that reflect current views and estimates about future economic circumstances, market conditions and opportunities and the performance of portfolio investments. Such statements involve known and unknown risks and uncertainties, including the ability to implement our investment program, that could cause the actual performance to materially differ from any anticipated or projected performance expressed or implied by such forward-looking statements. Griffis Residential cannot guarantee future performance and the company does not undertake any obligation to update or revise any such statements.

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1/16/2014

Griffis Residential acquires 332-unit luxury apartment community
in west Las Vegas for $43.2 million


Denver, CO – January 16, 2014 – Griffis Residential, a Denver-based multifamily investment and management company, today announced that it has acquired The Wellington apartments, a 332-unit multifamily Class-A community located in the resurgent west Las Vegas submarket of Summerlin. The $43.2 million acquisition is the company’s second investment in the Las Vegas metro area, following the May 2013 purchase of the 310-unit Quest Apartments in the Henderson submarket. The Wellington property brings the number of Class-A multifamily units that Griffis Residential owns and manages to 4,890.

“This acquisition further diversifies our Class-A property portfolio and presents an excellent investment opportunity fueled by a continuing economic recovery in Las Vegas,” said Griffis Residential CEO David Birnbaum. “We expect multifamily fundamentals to continue to improve as a recovery in local tourism boosts hiring and household formations. Bolstered by this recovery, we are confident that the Griffis Residential investment strategy that has served us well in Colorado will translate into solid income and investment results over time for our Las Vegas properties as well.”

Built in 1998 and partially renovated in 2012 and 2013, The Wellington is a luxury apartment community located in the premier residential Summerlin/Lakes area of Las Vegas. The community benefits from excellent visibility and access to the I-215 beltway and is served by top-rated schools and convenient mixed-use development including the Shops at Summerlin slated for completion in 2014. The garden-style property offers five floor plans, from one- to three-bedrooms, ranging in size from 759 to 1,322 square feet. The community also boasts high-end amenities including a resort-style swimming pool and spa, a large clubhouse, tennis and basketball courts, and state of the art fitness and business centers. In addition to the recent renovations, post-acquisition capital improvements are planned to bring the property to the level of quality exemplified by Griffis Residential communities.

Effective immediately, Monique Wasson, who has been with Griffis Residential since 2009, has been appointed community manager for The Wellington. Ms. Wasson is responsible for day-to-day management of the community and fostering the Griffis Residential guest-centered culture, which places a top priority on delivering the highest quality guest experience in the luxury apartment industry.

About Griffis Residential
Griffis Residential is a multifamily real estate investment company that owns and manages nearly 5,000 Class-A multifamily units in Nevada and along the Front Range of Colorado, including Denver and Colorado Springs. Since the beginning of 2012, Griffis Residential has completed more than $250 million in apartment acquisitions and is the second largest owner / operator of Class-A apartments in Colorado. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents. More information can be found at www.griffisresidential.com.

For information, please contact Ian Griffis (igriffis@griffisresidential.com), David Birnbaum (david@griffisresidential.com) or Tom Barta (tbarta@griffisresidential.com).

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4/25/2011

GRIFFIS GROUP sponsors $40,000 Griffis Apartment Funds Grand Prix at Colorado Horse Park in Parker, Colorado

8/21/2010

GRIFFIS GROUP Show Jumping Invitational Charity Event

10/5/2009

GRIFFIS GROUP sells West Cherry Creek for $5.8 million

7/10/2008

GRIFFIS GROUP sells Boulder Crescent for $2.4 million

7/1/2008

GRIFFIS GROUP buys Sagebrook for $36.2 million

1/25/2008

GRIFFIS GROUP launched its newest private equity real estate fund, Griffis Premium Apartment Fund, LLC, a $50 million fund targeting Class-A apartment communities, located primarily in Colorado

9/7/2007

GRIFFIS GROUP moves its corporate office from Colorado Springs to Denver