Griffin Capital Co. has closed on its 11th land acquisition in a qualified opportunity zone.
Located in Mesa, Ariz., a vibrant submarket of the Phoenix metropolitan area, the land will be the site of a 335-unit, garden-style apartment community. Griffin Capital will develop the property in partnership with The Opus Group, a commercial real estate development, construction and design firm with over 2,900 projects completed, totaling more than 290 million square feet.
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 Opus Group, Griffin Capital has partnered with several other multifamily developers to construct housing in qualified opportunity zones, including Alliance Residential, Avalon Bay, The Bozzuto Group, Fairfield Residential, Greystar, Legacy Partners, RangeWater and Transwestern. These multifamily communities will consist of 4,68
