Griffin Capital Qualified Opportunity Zone Fund II, L.P. Announces the Commencement of Construction on a 380-Unit Multifamily Community in Aurora, CO
Griffin Capital Company, LLC (“Griffin Capital”), a leading private real estate investment manager, together with their joint venture partner Legacy Partners (“Legacy”), a privately held national real estate developer, has announced the groundbreaking of a 380-unit multifamily development located in Aurora, CO. The development will be part of a 60-acre master-plan community featuring office, retail, and multifamily centered around a renovated light rail station that connects the neighborhood to key destinations throughout Denver MSA. The community will have direct rail and highway access to Fitzsimons Medical Center, Denver’s largest medical district, which includes University of Colorado-affiliated hospitals and research centers as well as one of the nation’s largest VA hospitals.
The four-story wrap community will offer a mix of studio through three-bedroom units and will feature a variety of tenant amenities, including a resort-style pool, expansive fitness center, resident lounge, and outdoor communal kitchen.
“This community will be uniquely positioned to take advantage of Aurora’s strong job and population growth driven by its expanding medical sector. It will provide attractive, affordable rental housing to meet the area’s growing demand and create additional economic stimulus for the community. This is our third development with Legacy across our opportunity zone funds and our second with their team in the Aurora market. They have been a terrific partner and we are excited to continue to invest in this community alongside them” commented Eric Kaplan, President of Griffin Capital.
This development is one of 12 communities being developed by Griffin Capital Qualified Opportunity Zone Fund II, L.P. which will comprise 4,067 apartment units with an estimated total project cost of approximately $1.2 billion.
Griffin Capital has successfully raised over $1.2 billion to date in its Opportunity Zone Fund offerings and has fully identified 27 investment opportunities across all portfolios, which comprise 9,448 apartment units in 20 cities with an estimated $3.1 billion of total project cost.
About Griffin Capital Company
Griffin Capital Company is a leading full-service real estate investment and management company that for nearly three decades has established a reputation for leadership and innovation led by a team of cycle-tested professionals with expertise in acquisitions, investment management, capital markets, financial reporting, legal, development, and construction management. Since 1995 the Firm has owned, managed, sponsored and/or co-sponsored approximately $23 billion in assets1 across a wide range of real estate sectors and investment structures. The Company’s senior executives and employees have co-invested over $300 million in various investment verticals, aligning Griffin Capital’s interest with those of its investors.
- Includes estimated total project costs for assets under construction.
Additional information is available at: www.griffincapital.com.