Griffin Capital, an alternative investment asset manager headquartered in El Segundo, Calif., has raised $323 million for its Griffin Capital Qualified Opportunity Zone Fund, according to a recent Form D filed with the Securities and Exchange Commission. The private placement was launched in April 2019 and is seeking to raise a total of $335 million.
In August 2019, Griffin Capital announced its first acquisition for the fund, a 4.5-acre land acquisition in Aurora, Colo., where the firm has plans to develop a five-story, 363-unit multifamily community named Legacy at Fitz. The acquisition and development are part of a joint venture with Legacy Partners.
As part of its opportunity zone investment program, Griffin Capital intends to develop two multifamily communities in partnership with Legacy Partners, the recently acquired 363 units in Aurora and 225 units in T