Denver-based Griffis Residential has raised $303 million for its fifth value-added multifamily fund, Griffis Premium Apartment Fund V, according to an SEC Form D.
Launched in February, the fund is targeting $425 million in capital commitments.
According to the document, 22 investors have backed the apartment fund.
Griffis typically targets assets that contain more than 200 units and have a project cost of $50 million to $150 million. The previous fund in the series, Griffis Premium Apartment Fund IV, held a final close in October 2017, raising $407 million.
Griffis is a vertically integrated owner and operator of nearly 8,000 multifamily units valued at roughly $2 billion in markets around the western United States, including Austin, Denver, Las Vegas, Los Angeles and Seattle.
