Griffin Capital Qualified Opportunity Zone Fund, a Regulation D opportunity zone fund sponsored by alternative investment asset manager Griffin Capital, has raised approximately $361.4 million, according to an SEC filing dated May 21, 2020.
The fund has a $445 million equity fundraising target.
It will invest in all property sectors except hotel and retail. Investments will focus on multifamily, office, industrial and medical real estate, especially multifamily. According to Kevin Shields, chairman and CEO, in a presentation in March 2020 discussing the fund, multifamily is the strongest property type because of the demographics of millennials and baby boomers, which creates high propensity to rent; consistent operating performance with relatively low volatility has led to attractive risk-adjusted returns; and scalability and diversification for its portf