Fundraising - JULY 27, 2021

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Griffin Capital OZ fund exceeds $217m of fundraising

by Larry Gray

Griffin Capital Co. has raised $217 million for its Griffin Capital Qualified Opportunity Zone Fund II, according to a recent SEC Form D filing. The fund sponsor is seeking to raise $245 million of equity. To date, more than 400 investors have invested in the Regulation D private placement offering.

Located in Mesa, Ariz., 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 more than 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 Bozzuto Group and StonebridgeCarras, Griffin Capital has part

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