Griffis Residential sells Griffis Southpark, a 330-unit community in Austin, Texas

Griffis Southpark, Austin, Texas

Griffis Residential is pleased to announce that Griffis Premium Apartment Fund IV (Fund IV) has sold Griffis Southpark, a 330-unit community in Austin, Texas. The property was acquired in December 2017 and sold in July 2022.

Physical improvements, together with an enhanced resident experience and a variety of asset management initiatives, contributed to 31% rent growth and a 30% increase in net operating income over the hold period.