Griffin Capital Qualified Opportunity Zone Fund, L.P. Opens Second Phase of 363-Residence Legacy at Fitz in Aurora, CO￼
El Segundo, Calif. (June 7, 2022 ) – Griffin Capital Company, LLC (“Griffin Capital”), a leading privately held alternative investment asset manager with a focus on direct real estate strategies, together with their joint venture partner Legacy Partners (“Legacy”), a privately held national real estate firm, announced the opening of the second and final phase of Legacy at Fitz, a 363-residence apartment community located in Aurora, Colorado, across the street from Fitzsimons Medical Center.
Legacy at Fitz is one of nine communities being developed by Griffin Capital Qualified Opportunity Zone Fund L.P. which will comprise 3,273 apartment units with an estimated total project cost of approximately $985,766,000. Construction has started on every asset in the portfolio with several currently being leased.
Griffin Capital successfully raised $1.1 billion in its closed Opportunity Zone Fund offerings, Griffin Capital Qualified Opportunity Zone, L.P. and Griffin Capital Qualified Opportunity Zone Fund II, L.P., and has fully identified 21 investment opportunities across both portfolios, which comprise 7,340 apartment units in 17 cities with an estimated $2.3 billion of total project cost.
Phase I of Legacy at Fitz, located at 1363 N. Victor Street, opened in May 2021 and consists of a five- story building with 109 residences and two townhome buildings. Phase II includes the opening of 245 new residences with two courtyards, a pool and spa, two- story fitness center and yoga room, fifth level observation deck with views of the Front Range, and a clubhouse with a fully functional kitchen, billiards table, a private video game room and a private dining room.
“Legacy at Fitz is a wonderful community that will provide much needed housing in an under-supplied market. Our long-term investment in this community will continue to create jobs, economic stimulus, and a great experience for our residents for many years to come. We could not have asked for a better team than Legacy Partners to help us make this a reality. This community fills an important housing need in the region, and we are all very pleased with the leasing efforts thus far” commented Eric Kaplan, President of Griffin Capital.
“Legacy at Fitz is one of the most unique new apartment communities in Aurora,” added R. Lane Cutter, Senior Managing Director at Legacy. “We designed it to appeal to a wide range of residents — from affordability-seeking Denverites to those who work and live around the Anschutz Medical School area.”
Designed by Denver-based architectural firm Davis Partnership, the community is located just minutes from Denver International Airport and only a half-mile from an RTD light rail station.
Learn more at https://www.legacyatfitz.com/.
About Griffin Capital Company
Griffin Capital is a leading alternative investment asset manager headquartered in El Segundo, California. Founded in 1995, Griffin Capital has owned, managed, sponsored or co-sponsored investment programs encompassing approximately $22 billion in assets.1 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 more than 200,000 investors. The Company leverages the breadth and depth of its cycle-tested investment management teams to capitalize on long-term economic trends and secular growth opportunities in the real estate sector through direct investment strategies.
- Includes estimated total project costs for assets under construction.
Additional information is available at: www.griffincapital.com.
About Legacy Partners
Legacy Partners (Legacy), a privately held real estate firm founded in 1968 and headquartered in the San Francisco Bay Area, owns, develops, and manages multifamily communities throughout the United States. Legacy has regional offices in California, Colorado, Florida, Georgia, Texas, and Washington, and has developed more than 66,000 apartment homes in Arizona, California, Colorado, Nevada, Oregon, Texas, and Washington. Since inception, Legacy has worked with some of the world’s largest financial institutions, life insurance companies, and real estate companies, consistently delivering exceptional results.
Legacy provides management services for its own portfolio, as well as other owners. Combined, Legacy manages a portfolio of over 54 multifamily communities with more than 12,000 apartment homes, and with a gross value in excess of $3 billion. For further information, please visit legacypartners.com.