Griffis Residential Renames Acquisition Griffis North Creek Bothell

Griffis Residential acquires 524 Apartment Units in North Metro Seattle

Denver, CO – October 18, 2016 – Griffis Residential, a Denver-based multifamily investment and management firm, announced today that it has acquired Bridges at Northcreek Apartments, a 524-unit Class-A multifamily community located 23 miles north of downtown Seattle. Effective immediately, Bridges at Northcreek Apartments has been renamed Griffis North Creek Bothell. With the acquisition, Griffis Residential owns and manages approximately 8,000 apartment units in Colorado, Texas, Nevada and Washington. Additional target markets include Portland and the San Francisco metro area.

Griffis North Creek Bothell, built in 1999, offers one-, two- and three-bedroom apartment homes from 659 to 1,133 square feet. The apartment homes feature wetland and greenbelt views, private decks and patios, and in-home washers and dryers. Additional community amenities include an expansive clubhouse with a business center and full kitchen, outdoor heated pool, outdoor lounge areas, and available carports and detached garages.

The community, surrounded by a nature reserve on nearly 50 acres, is conveniently located near a large employment base including 2.5 million square feet of biotech, medical, and engineering space. Prominent employers just minutes from the community include Microsoft, Boeing, Lockheed Martin, Panasonic, Phillips Medical, and Seattle Genetics.

For community and leasing information, please visit GriffisNorthCreek.com .

About Griffis Residential

With nearly $1.5 billion in multifamily assets, Griffis Residential is a multifamily real estate investment company that owns and manages approximately 8,000 Class-A apartment units. Target markets include Denver, Seattle, Austin, Portland, and the San Francisco Bay Area. 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.