Post Acquisition, Chez Moi Becomes Griffis at the Domain
- Dec 16, 2015
AUSTIN, Texas—Denver-based multifamily investment and management firm Griffis Residential has acquired Chez Moi, a Class A multifamily community in the Live Music Capital of the World.
HFF worked exclusively on behalf of Griffis and placed a seven-year, 3.94 percent, fixed-rate acquisition loan with a correspondent life insurance company. The HFF debt placement team representing the borrower was led by Eric Tupler, Josh Simon, and Casey Wenzel. The property was 94 percent leased at the time of the sale, and has been rebranded Griffis at the Domain.
“Austin is one of the top innovation centers in the US with continued agglomeration of highly skilled workers and companies offering new, high-paying jobs,” said Griffis Residential Executive Chairman Ian Griffis. “Strong wage growth combined with affordable housing creates headroom for the rental growth that results from our renovation and service strategies.”
The garden-style community was built in 1997 on 20.97 acres at 12100 Metric Blvd. in North Austin, in the heart of the city’s tech corridor, and minutes away from The Domain Shopping Center. Griffis at the Domain offers convenient access to the MoPac Exoressway, Interstate 35, and West Parmer Lane, as well as to the University of Texas and the Austin Capital Metro Light Rail. Major employers in the area include IBM, Dell, Apple, Amazon, Samsung, and National Instruments.
Residents at the gated community can choose from one- to three-bedroom units with nine-foot ceilings, ranging in size from 644 to 1,367 square feet. Community amenities include a swimming pool with sundeck, hot tub, outdoor fire pit, sand volleyball court, clubhouse, business center, dog park, car wash, nature trail, and garage parking.