Company News | January 18, 2022
New Fund V Acquisition - Griffis East Village - San Diego, CA
Griffis Residential is pleased to announce that Griffis Premium Apartment Fund V (Fund V) has acquired the EV Lofts (rebranded Griffis East Village). The transaction is the eighth and final acquisition for Fund V.
- Units / Year of Construction: 208 / 2015
- Dynamic Location: Griffis East Village is in the up-and-coming East Village neighborhood of downtown San Diego adjacent to the historic Gaslamp Quarter and minutes to the CBD. Currently, downtown San Diego is set to deliver over 4.8m square feet of new office/lab space over the next three years, bringing 16k+ new jobs to downtown.
- Opportunity: High quality mid-rise construction trading for an 18% discount to estimated replacement cost, offering demonstrable below market rents and management upside.
If you are interested in learning about upcoming investment opportunities in Fund VI, please contact Client Services at (303) 268-2121 or email@example.com.
Griffis Residential, based in Denver, CO, is a vertically integrated multifamily investment firm that owns and operates institutional-quality apartment communities in high-growth innovation hubs. In-house management teams include approximately 250 apartment professionals for its assets under management of $2.7b in Austin, Denver, Los Angeles, Portland, San Diego, and Seattle. Built on the 33 years of multifamily investment experience of its principals, Griffis Residential has established a leading reputation on its all-weather investment strategy and strong track record of value creation through multiple market cycles.