Griffis Residential secured approximately $207 million in capital commitments in the first close of Griffis Premium Apartment Fund VII. Fund VII succeeds Griffis Premium Apartment Fund VI, which raised $525 million.
The new fund will continue Griffis Residential’s value-add strategy of acquiring high-quality multifamily communities in selected U.S. markets.
Griffis targets regions with favorable demographic trends, attractive affordability characteristics, and improving housing supply and demand dynamics.
Fund VII has already completed its first acquisition.
In March 2026, the fund acquired Griffis North Olive, a 263-unit apartment community in West Palm Beach, Florida, for approximately $104 million.
The 2016-vintage property was acquired at an estimated 25% discount to replacement cost.
The transaction expands Griffis Residential’s presence in South Florida.
The firm plans to generate additional value through property improvements and operational enhancements.
Griffis Residential currently owns and manages approximately 9,500 apartment units across 13 markets.
Its overall portfolio is valued at approximately $3.6 billion.
KEY QUOTES:
“Our best-in-class operations team has once again protected our partners throughout the current real estate recession.”
“Looking forward, the environment presents an excellent opportunity to acquire Class A multifamily assets at severely discounted prices.”
“Fund VII allows us to build on decades of successful real estate investing, through multiple market cycles, while maintaining the consistent and disciplined approach that has guided our investment strategy since our founding.”
Ian Griffis, Chairman and Co-CEO of Griffis Residential
