Grubb Properties has closed its 2021 Qualified Opportunity Fund with $152 million, bringing the total raised across the company’s three funds in its qualified opportunity fund program to $370 million.
Grubb will consolidate its 2019, 2020 and 2021 Qualified Opportunity funds into a new REIT entity, dubbed the Link Apartments Opportunity Zone REIT. The new $370 million REIT entity is expected to go into effect in the first quarter of 2022.
Link Apartments, which are geared to those earning between 60 percent and 140 percent of area median income, currently total 19 communities stabilized or under construction across the United States.
With 4,935 multifamily units and 16 additional communities in the pipeline, the communities offer an amenity-rich living experience to residents who want to live near transit, employment and entertainment venues, according to Grubb.
“Providing essential housing through Link Apartments directly addresses the serious housin
