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Griffin Capital Acquires MF Development Site in Silver Spring

Privately-held alternative asset manager Griffin Capital has acquired a multifamily development site in a Qualified Opportunity Zone with plans to build a 375-unit, mid-rise apartment community.

Located in Silver Spring, the property will be developed in partnership with The Bozzuto Group, a Maryland-based real estate developer and property manager that specializes in multi-family, and StonebridgeCarras.

“Our Silver Spring development is another example of our commitment to investing in attractive markets that fall within designated Opportunity Zones,” said Eric Kaplan, president at Griffin Capital Private Equity. “Conveniently located near Bethesda, MD and Downtown Washington D.C., Silver Spring has blossomed into a dynamic live-work-play environment. The market is supported by strong employment opportunities and a compelling mix of retail and dining, all of which are proximate to our property. We are proud to support the city of Silver Spring by bringing additional high-quality housing to this vibrant community.”

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Inside The Story

Griffin Capital’s Kaplan

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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