Company News | September 5, 2019
Griffis Residential Sells Griffis at Lowry Apartments
Griffis Residential is pleased to announce that Griffis Premium Apartment Fund III (Fund III) has s sold Griffis at Lowry Apartments, a 150-unit Class-A multifamily community located in Denver, Colorado. The property was acquired in December 2015 and sold in August 2019. During the 3.7-year hold period an enhanced resident experience and a variety of asset management initiatives, contributed to a significant increase in net operating income. Other income at sale was was over 3x higher than takeover, representing increased capitalized value at disposition.