Griffin Capital Fully Subscribes $45M Multifamily DST in South Carolina

Private real estate investment manager Griffin Capital Company LLC has fully subscribed its multifamily 1031 exchange Delaware statutory trust offering, The Isley at Windsor Hill, after raising over $45 million of equity. The company acquired the community in July 2024 on behalf of Griffin Capital (Windsor Hill – North Charleston, SC) DST.

The asset is a recently developed 332-unit multifamily community located in the rapidly growing submarket of North Charleston, S.C. With proximity to Charleston’s major employers, such as Boeing, Mercedes-Benz, Trident Health, Charleston International Airport, the Port of Charleston and the U.S. military’s Joint Base Charleston, Griffin Capital said The Isley at Windsor Hill is in an ideal commuter location.

“Multifamily communities like The Isley at Windsor Hill exemplify Griffin’s investment focus of acquiring well-located real estate in markets with strong economic, demographic, and apartment fundamentals which provides downside protection and growth opportunities for our investors,” said Paul De Martini, chief investment officer at Griffin Capital.

Further, the property provides residents convenient access to retail and entertainment amenities such as Publix, Target, and Topgolf.

Over the summer, Griffin Capital sold Heritage on the Merrimack Apartments, a 240-unit multifamily community located in Bedford, N.H., for over $80 million. It had acquired the Heritage apartments in November 2018 on behalf of Griffin Capital (Heritage – Bedford, NH) DST. The total equity raised was $31.4 million. Purchased by a national pension fund adviser, the current sale resulted in a realized net total return to investors of approximately 166.6% and an average annualized return of 12.9%.

Griffin Capital Company is a full-service real estate investment and management company. Since 1995, it 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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