Griffin Capital Completes Build on OZ Fund II Multifamily Community in Nashville
Private real estate investment manager Griffin Capital Company LLC announced the completion of construction on The Scottie, a 320-unit multifamily community in Nashville, and said that the community adds a meaningful residential asset to the vibrant Marathon Village neighborhood, just five minutes from downtown Nashville and the historic Germantown neighborhood.
The Scottie is a five-story community offering a diverse range of living options, from studio to two-bedroom units. According to Griffin, amenities include a resort-style pool with bar and lounge seating, an integrated clubhouse with a social lounge, a coffee bar, and a pet-friendly environment complete with a grooming station. The interiors feature designer finishes, adding a touch of elegance to every unit.
“The Scottie represents a key addition to our portfolio, demonstrating our commitment to developing high-quality residential communities in dynamic urban areas,” said Paul De Martini, chief investment officer of Griffin Capital. “This property, along with our broader investment strategy, underscores our conviction in the Nashville market and our ability to deliver exceptional living experiences.”
The Scottie is one of 11 communities being developed by Griffin Capital Qualified Opportunity Zone Fund II, L.P., which will comprise 3,758 apartment units and has an estimated total project cost of approximately $1.3 billion.
“We are thrilled to bring The Scottie to Marathon Village. The community brings much-needed housing to the area, providing modern, comfortable living spaces while positively impacting the neighborhood. We look forward to being part of this vibrant community and contributing to its continued growth and success,” added Nick Rosenthal, co-chief executive officer of Griffin Capital.
Other communities associated with Griffin’s OZ Fund II include a multifamily development in Tempe, Ariz., and another Nashville property – a 292-unit multifamily development with joint venture partner Greystar Real Estate Partners – both of which broke ground in fall 2023.
Griffin Capital has successfully raised approximately $1.7 billion in equity across its various qualified opportunity zone funds and currently manages a combined portfolio of 28 multifamily communities in various stages of construction, leasing and operations, totaling over 9,800 units with an estimated total project cost of $3.2 billion.
Griffin Capital Company is a leading full-service real estate investment and management company. Since 1995, the company has owned, managed, sponsored and/or co-sponsored approximately $23 billion in assets across a wide range of real estate sectors and investment structures. Griffin’s senior executives and employees have co-invested over $300 million in various investment verticals.
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