Griffin Capital Buys Land for 132-Unit Build-to-Rent Community Near Dallas
Real estate investment manager Griffin Capital Company has bought 9.8 acres in Flower Mound, Texas, for Lakeside East, a planned 132-unit build-to-rent townhome community, the company said. Griffin made the purchase on behalf of Griffin Capital Residential Partners, its dedicated build-to-rent platform.
Griffin purchased the land from Realty Capital Management, the developer of Lakeside Village, a master-planned, mixed-use development on the north shore of Grapevine Lake. Griffin did not disclose the purchase price or how the development will be financed.
“Our strategy is to invest in rental communities that provide residents with differentiated and compelling housing options in markets where we see durable demand and long-term growth, and Flower Mound is a clear example of that,” said Nick Rosenthal, co-chief executive officer of Griffin Capital.
The site, which is within Lakeside Village, will provide residents more than 70,000 square feet of retail, said the company, along with dining, recreational trails, and lakefront parks.
Griffin said Lakeside East will be the BTR division’s first ground-up project.
Lakeside East will offer two-, three-, and four-bedroom townhomes averaging about 1,500 square feet. Every home will have an attached two-car garage, and some will include first-floor primary suites. Planned amenities include a clubhouse, pool, fitness center, pickleball courts, and a dog park.
The property falls in Lewisville Independent School District, which Griffin said is one of the highest-ranked districts in Denton County, citing Niche.com rankings. The company said the site is near Dallas-Fort Worth International Airport, with direct access to FM 2499, State Highway 121, and Interstate 635.
“Lakeside East reflects the platform’s focus on quality rental housing in markets with durable fundamentals, where single-family homeownership is not accessible to residents who want to be in that location,” Rosenthal said. “We believe that approach positions our investors for resilient, long-term performance and improves housing accessibility for the communities in which we invest.”
Griffin formed Griffin Capital Residential Partners in September 2025 to acquire, develop, and operate purpose-built rental communities. The division is led by co-chief executive officers Jonathan Trott and David Platter, who previously served as co-chief investment officers at Capital Square and led the build-to-rent division at Amherst.
The acquisition comes less than two weeks after Griffin fully subscribed Griffin Capital Tulsa BTR DST, a Delaware statutory trust that raised approximately $23.5 million for Meadow+Main, a 138-unit build-to-rent community in Jenks, Okla. Unlike Lakeside East, Meadow+Main was already completed when Griffin acquired it in January.
Griffin has also closed two multifamily DSTs this year. It raised $59.9 million in September for Griffin Capital (Union – Kansas City, MO) DST, which ground leases Union Berkley Riverfront Apartments, a 407-unit Class A community in Kansas City, Mo. In March, the firm fully subscribed Griffin Capital (Heritage – Gonzales, LA) DST after raising $37.13 million for The Oaks at Riverbend, a 299-unit community in the Baton Rouge, La., area.
Griffin Capital Company is a real estate investment management firm. Since 1995, the firm has owned, managed, sponsored, or co-sponsored approximately $24.6 billion in assets as of June 30, 2026, the company said. Its rental housing portfolio includes 41 communities comprising more than 13,600 rental housing units and 693 student housing beds, representing a total project value of more than $4.6 billion, including budgeted costs for properties under construction or in pre-development.
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