Griffin Capital Co. announced the closing of its tenth land acquisition in a qualified opportunity zone. Located in Silver Spring, Md., the land will be the site of a 375-unit, mid-rise apartment community. Griffin Capital will develop the property in partnership with The Bozzuto Group, a Maryland-based real estate developer and property manager that specializes in multifamily, and StonebridgeCarras.
Griffin Capital currently has 13 multifamily properties in various stages of acquisition and development, each of which is located in a qualified opportunity zone. In addition to The Bozzuto Group and StonebridgeCarras, Griffin Capital has partnered with several other best-in-class multifamily developers to construct housing in qualified opportunity zones, including Avalon Bay, Greystar, Legacy Partners, Alliance Residential, Fairfield Residential, Transwestern, RangeWater and The Opus Group. These multifamily communities will consist of 4,684 units, with a total approximate deve
