New Fund V Acquisition - Griffis East Village - San Diego, CA

Name: Griffis Residential
Address: 6400 South Fiddlers Green Circle Suite 1200, Greenwood Village, CO, 80111, USA
Telephone: (303) 268-2121

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 clientservices@griffisresidential.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.

Nothing presented herein is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Griffis Residential. Offers and sales will be made only pursuant to a confidential private placement memorandum (the “Memorandum”), which describes the terms and risks of an investment. The Memorandum, including the risk factors and potential conflicts of interest described therein, and other governing documents should be read in their entirety and carefully prior to investment. The information contained herein is qualified in its entirety by reference to such Memorandum.

Information provided reflects Griffis Residential’s views as of a particular time. Such views are subject to change at any point and Griffis Residential shall not be obligated to provide notice of any change. Any forward-looking statements or forecasts are based on assumptions and actual results are expected to vary from any such statements or forecasts. No reliance should be placed on any such statements or forecasts when making any investment decision. While Griffis Residential has used reasonable efforts to obtain information from reliable sources, we make no representations or warranties as to the accuracy, reliability, or completeness of third-party information presented herein.