Griffin QOZ Fund II Completes Construction of Virginia Multifamily Community

Private real estate investment manager Griffin Capital Company has completed construction of The Wyatt, a 396-unit mid-rise apartment community in a qualified opportunity zone in Herndon, Va.

The Wyatt is part of the Griffin Capital Qualified Opportunity Zone Fund II, L.P., which closed in the fourth quarter of 2021 after raising more than $585 million of investor equity.

Situated in a Washington, D.C., suburb within Loudoun County, The Wyatt community offers residents direct access to the Innovation Center Metro Station, enhancing connectivity to major employment centers throughout the D.C. metropolitan area. Its proximity to key roadways, including Route 267 and Route 28, provides convenient access to Dulles International Airport and surrounding commercial hubs.

The five-story apartment community offers a variety of floor plans, including studio, one-, two-, and three-bedroom units. Amenities include a game room and lounge, fitness center, swimming pool, courtyard with grills and firepits, and co-working spaces. Residents will also enjoy easy access to shopping, dining, and a newly constructed park.

“The completion of The Wyatt underscores our commitment to developing high-quality housing in prime, transit-oriented locations,” commented Paul De Martini, chief investment officer at Griffin Capital. “This community not only provides an exceptional living experience for its residents through modern design and amenities but also contributes positively to the economic vitality of Herndon by delivering a premier asset in a key growth corridor.”

Griffin Capital has raised approximately $2 billion in equity across its various qualified opportunity zone funds and currently manages a portfolio of 32 multifamily communities in various stages of construction, leasing and operations. The total portfolio includes more than 10,900 units with an estimated value of $3.9 billion.

Griffin Capital Company is a full-service real estate investment and management company. Since 1995, the firm has owned, managed, sponsored, or co-sponsored approximately $24 billion in assets across a 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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