Exterior of Griffis LoDo
Company News | September 28, 2021
Griffis Residential Acquires 285 Apartment Homes in Denver
Griffis Residential is pleased to announce that Griffis Premium Apartment Fund V (Fund V) has acquired Verve Denver Apartments (rebranded Griffis LoDo). The transaction is the sixth acquisition for Fund V.
- Units / Year of Construction: 285 / 2014
- Dynamic Location: A high quality, steel and concrete mid-rise tower located at 15th and Delgany in downtown Denver. The location offers easy access to the city’s largest employers and finest lifestyle and cultural amenities.
- Opportunity: Lower rents than existing communities in downtown Denver in less favorable locations provides substantial headroom for rent growth. Ancillary income opportunities and more effective asset and property management to drive strong management turnaround and income growth.
- Attractive Financing: Fixed 2.7%, 10-year interest-only loan
If you are interested in learning about upcoming investment opportunities, please contact Client Services at (303) 268-2121 or clientservices@griffisresidential.com.
About Griffis Residential
Griffis Residential is a vertically integrated multifamily real estate investment firm that currently owns and manages approximately 7,000 Class-A apartment units valued at over $2.4 billion. Target markets include Denver, Seattle, Austin, Portland, Los Angeles, San Diego, and the San Francisco Bay Area. For more information visit Griffis Residential.com.
