Griffin Capital Co. has closed its fourth land acquisition in a qualified opportunity zone. “Legacy at Encore” is the second joint venture multifamily community Griffin Capital is developing in partnership with Legacy Partners.
Griffin Capital has identified nine multifamily properties partnering with five joint venture developers, including: a 475-unit mid-rise apartment community in downtown Los Angeles with Avalon Bay Communities; a 375-unit two-building property in Silver Spring, Maryland with Bozzuto; two multifamily developments with Greystar Real Estate Partners (300 units in Austin, where development began in November 2019, and 500 units in Baltimore); three communities with Fairfield Residential (365 units in Austin, 284 units in Houston, where development began in December 2019, and 310 units in Hyattsville, Md., in suburban Washington, D.C.); and, two multifamily communities in partnership with Legacy Partners (the recently acquired 228-unit