Griffis Residential Completes Acquisition of South Florida Apartment Community

Griffis Residential, a leading owner and operator of apartment communities across major U.S. metropolitan areas, continues expansion on the East Coast with the purchase of Anya, a 223-unit multifamily property located in downtown West Palm Beach, Florida. This 2023-built, ultra-luxury high-rise community has been rebranded as Griffis West Palm, marking the company’s official debut in the South Florida market.

West Palm Beach has earned the nickname “Wall Street South” due to the growing influx of financial firms, investment managers, and high-net-worth individuals relocating to the area in recent years. “Our expansion into Florida supports our strategy to acquire high-quality, core multifamily assets of enduring value in markets with favorable economic and demographic trends. West Palm Beach offers strong population growth, a highly educated labor pool, and robust renter demand. Its resilient fundamentals and income-producing characteristics align with our objective to deliver stable cash flow and long-term value through disciplined asset-level execution,” said Ian Griffis, Chairman and Co-Chief Executive Officer.

Griffis Residential acquired the property through Griffis Residential Income Trust (GRIT), an open-end, perpetual life multifamily fund launched in 2020. The transaction marks GRIT’s ninth acquisition and was supported by a 10-year, fixed-rate, interest-only financing structure, reflecting Griffis Residential’s commitment to strategic and sound financial planning. With this acquisition, Griffis Residential now owns and manages approximately 8,000 units and has approximately $3.2 billion in assets under management in 10 markets.

Griffis Residential Income Trust remains open to new investors. For more information, please contact Client Services at 303.268.2121 or ClientServices@GriffisResidential.com.

About Griffis Residential

Griffis Residential, based in Denver, CO, is a vertically integrated multifamily investment firm currently operating a $3.2b portfolio of institutional-quality apartment communities in high-growth innovation hubs. The Griffis Residential management platform includes approximately 275 apartment professionals located in Austin, Denver, Portland, San Diego, Seattle, Silicon Valley, Dallas, Washington D.C., Los Angeles, and West Palm Beach. Built on over 35 years of multifamily investment experience, Griffis Residential has established a leading reputation for its all-weather investment strategy and strong track record of value creation through multiple market cycles. For more information visit GriffisResidential.com.