Draper And Kramer Acquires Austin's 307-Unit Griffis At Riata Property

Draper and Kramer has acquired the Griffis at Riata property in Austin's tech district. The property is located opposite the Apple corporate campus and has been rebranded as DK Riata. It features a mix of one and two-bedroom units across 17 buildings, including townhomes. The property spans 16.9 acres and is 95% leased at the time of purchase. Amenities at DK Riata include co-working spaces, fitness centers, and a resort-style pool.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: Not specified
• Units: 307
• Acres: 16.9
• Buyer: Draper and Kramer - Todd Bancroft

Draper and Kramer, represented by Todd Bancroft, has successfully acquired the Griffis at Riata property. This transaction allows Draper and Kramer to expand its presence in Austin's tech district and capitalize on the high demand for housing in the area. With the property's prime location and a variety of desirable amenities, DK Riata is expected to attract tenants looking for a convenient and vibrant living experience.