Griffin Capital Completes Austin Multifamily Project

Griffin Capital has completed construction on 1900 Parmer Apartments, a 364-unit multifamily community in Austin's opportunity zone, providing high-quality housing with modern amenities in a rapidly growing area.

September 26, 2024

Griffin Capital Company LLC, a private real estate investment manager, has completed construction on 1900 Parmer Apartments, a 364-unit multifamily community located in an opportunity zone in Austin, Texas. The development features two four-story garden-style buildings with studios, one-bedroom, and two-bedroom units, and offers amenities such as a clubhouse, resort-style pool, dog park, and fitness center.

Paul De Martini, chief investment officer at Griffin Capital, highlighted the project’s significance in meeting Austin’s growing demand for quality housing, given the city’s forecasted job and population growth. The 1900 Parmer Apartments is one of nine communities being developed by Griffin Capital’s Qualified Opportunity Zone Fund, totaling over 3,273 units with a combined project cost of approximately $1 billion.

Located with easy access to major highways and close to large employers like Samsung and General Motors, the community offers convenience for professionals working in the area. The development is also near the Tech Ridge area and The Domain, a popular retail and entertainment district.

Griffin Capital has raised $1.7 billion in equity across its opportunity zone funds and manages a portfolio of 28 multifamily communities. Earlier this month, the company also completed construction on The Scottie, a 320-unit community in Nashville. Since its founding in 1995, Griffin Capital has managed over $23 billion in assets across diverse real estate sectors.