Griffis Residential sells Griffis North Austin Apartments, a 384-unit community in Austin, Texas

Griffis North Austin, Austin, Texas

Griffis Residential is pleased to announce that Griffis Premium Apartment Fund (Fund II) has sold Griffis North Austin, a 384-unit community in Austin, Texas. The property was acquired in December 2015 and sold in December 2020.

Physical improvements, together with an enhanced resident experience and a variety of asset management initiatives, contributed to 30% rent growth and a 24% increase in net operating income over the hold period.