Griffis Seals Another Austin Deal

By Andie Lowenstein, Associate Editor

Denver, Colo. – A Denver-based multifamily investment and management firm acquired a multifamily community in the vibrant South Congress area of Austin.

Griffis Residential picked up Falcon Ridge, a Class-A 296-unit property. Within the Falcon Ridge acquisition, Griffis Residential currently owns and manages nearly 6,700 apartment units in Colorado, Texas, Nevada, and Washington.

“Falcon Ridge Apartments is an institutional quality asset in a superior location near Austin’s employment-rich Central Business District,” said Griffis residential executive chairman Ian Griffis. “Falcon Ridge is a perfect choice for renters who are looking for close proximity to Austin’s urban employers and high-quality amenities at a more attractive price point than new midrise properties in the area.”

Falcon Ridge Apartments has been renamed Griffis SoCo Austin. In addition to the acquisition, Darin Shroff, who has been with Griffis Residential since 2013, was promoted to operations manager for Griffis Residential’s portfolio of Austin properties. Previously, Shroff was community manager at Griffis North Metro, Griffis Residential’s largest multifamily community located in Northglenn, Colorado.

Built in 2000, Griffis SoCo Austin is located adjacent to the scenic Williamson Creek Greenbelt and just a 10 minute commute to Austin’s Central Business District (CBD) via IH-35. The CBD is anchored by more than nine million square feet of office space and The State of Texas – Austin’s largest employer with nearly 70,000 employees. The garden-style property offers one- to three-bedroom apartments featuring nine-foot ceilings ranging in size from 590 to 1,256 square feet. The gated community highlights high-end amenities including a clubhouse, fitness center, reserved covered parking, two pools, and a spa.