Griffin Capital
10 Programs on record · filing history back to 2009 · 3 classified as raising now
griffincapital.comPrograms on record10
First filed2009
Raising now3
Finished with published result40%
Capital-loss alertNone published
Sponsor-reported, from SEC filings and cited sources.
What the record shows
Griffin Capital Company, LLC, founded by Kevin A. Shields in 1995, sponsors Regulation D private placements that include stand-alone multifamily Delaware Statutory Trust offerings, with 1031 exchange programs sponsored through its Griffin Institutional Property Exchange affiliate and focused on institutional-quality Class A multifamily property. The firm reported $25 billion of real estate owned, managed, sponsored or co-sponsored and $18 billion of equity raised as of December 31, 2025, and approximately $2 billion of equity committed across 34 multifamily communities. Completed Delaware Statutory Trust exits include an Emeryville, California office property sold in January 2022 and the 240-unit Heritage on the Merrimack Apartments in Bedford, New Hampshire, sold in July 2024 for more than $80 million.
Sponsor-stated figures are as reported by the sponsor.Evidence 1234567891011
Published Grade summary
The audit tracks 10 Programs across 16 years, of which 6 are lifecycle-eligible: 5 where property sold but the result is unknown, and 1 still levered and unresolved past 10 years. No material adverse events or recorded floor appear in the file, which reflects what has been documented rather than what occurred. In the outcome-disclosure ledger, 2 Programs published a figure, 2 acknowledged an outcome without one, and 1 is silent, drawn from 12 citations at proof depth 4.
6Programs with an ending or 7+ years of history
0 of 6Programs with a documented problem
40%Finished Programs with a published result
YesPublishes its own track record
Raising money now
Classified active by Top1031 from the SEC filings. That does not confirm an offering is still available to buy.
SponsorPropertyOffering sizeAmount soldStatus☆
The Oaks at RiverbendSEC filing, Mar 12, 2026
Meadow+MainSEC filing, Mar 4, 2026
None sold yet, as reported in the sponsor’s latest SEC filing.
ActiveHow this Grade was computed
The four channels describe the documented public record. The published letter also applies evidence gates, ceilings, and adverse floors.
Four evidence channelsEach channel is scored from 0 to 100, then weighted under the published method.
Read the full methodHarm recordDocumented problems, weighed against everything at stake35% weight
Lifecycle outcomesHow programs old enough to finish actually ended25% weight
Market acceptanceHow each raise went against comparable offerings25% weight
Disclosure candorWhether completed programs come with published results15% weight
Weighted blend35% H + 25% L + 25% R + 15% TThe published result applies the anti-washout ceilings, evidence gates, and adverse floors below after this blend. Top1031 does not publish an intermediate score.
AProven71 and above
BEstablished61–70
CUnproven50–60
DWarning36–49
FAdverseBelow 36
NRNot ratedRecord too small or identity under review
- Ceilings
- The result cannot exceed H + 10 or L + 15, so stronger sales evidence cannot wash out a weaker harm or lifecycle record.
- Evidence gates
- A and B require minimum proof depth, lifecycle history, and channel evidence. A also requires qualifying disclosure coverage.
- Adverse floors
- An Integrity alert sets an F floor. A dominant documented capital loss or multiple independent severe events sets D or lower.
Proof depth73.1Published-outcome coverage40%
- C2026-Q3 · Moved from C. Binding constraints: proof depth below 4; fewer than 10 lifecycle-eligible Programs; H below 85.
Programs on the record
A Program is the filing-level offering record associated with this sponsor. Published-result figures are shown only with sponsor attribution and adjacent sources.
ProgramFirst filedStatusPublished outcome
Griffin Capital (Union - Kansas City, MO) DSTSEC filing 2026Raising now
—Not in the finished-Program ledger
Griffin Capital (Heritage - Gonzales, LA) DSTSEC filing 2025Raising now
—Not in the finished-Program ledger
Griffin Capital (Windsor Hill - North Charleston, SC) DSTSEC filing 2024Historical
—Not in the finished-Program ledger
Griffin Capital (Heritage - Bedford,NH)DST2019Finished
Show all 10 Programs
Griffin Capital (South Beach - Vegas) DST2019Finished
Griffin Capital (Nashville) Investors, DST2013Filing record
—Not in the finished-Program ledger
Griffin Capital (Highway 94) Investors, DST2012Finished
Who they are
Written from SEC filings and cited sources
Platform and strategy
Griffin Capital Company, LLC is the named sponsor entity, founded by Kevin A. Shields in 1995. The firm sponsors a series of Regulation D private placements that include stand-alone multifamily Delaware Statutory Trust offerings, and reports approximately $2 billion of equity committed to the development or acquisition of 34 multifamily communities totaling more than $3.74 billion in project costs 1. Its 1031 exchange offerings are sponsored through Griffin Institutional Property Exchange (GPX), an affiliate the firm describes as focused on institutional-quality Class A multifamily properties 2. Griffin Capital describes its rental-housing investment team as covering multifamily, build-to-rent and student housing, with a stated strategy of building institutional-quality multifamily assets in high-demand growth corridors 3. As of December 31, 2025, Griffin Capital reported $25 billion of real estate owned, managed, sponsored or co-sponsored, $18 billion of equity raised and $300 million of co-investment 4.
Dated program and portfolio milestones
On December 9, 2024, Griffin Capital reported that The Isley at Windsor Hill, a 332-unit multifamily DST offering in North Charleston, South Carolina, had closed fully subscribed after raising more than $45 million of equity 5. On March 9, 2026, the firm reported that Griffin Capital (Heritage–Gonzales, LA) DST had been fully subscribed after raising more than $37 million of equity; that trust owns The Oaks at Riverbend, a 299-unit multifamily community in the Ascension Parish submarket of Baton Rouge, Louisiana 2.
On February 4, 2026, Griffin Capital reported acquiring Meadow+Main, a 138-unit cottage-style build-to-rent community in the Jenks submarket of Tulsa, Oklahoma, on behalf of Griffin Capital Residential Partners, its dedicated build-to-rent platform 6. On March 16, 2026, it reported acquiring University Parkway, a 345-unit multifamily development site in suburban Atlanta, and beginning construction that month 3. The firm's news index reports an August 26, 2026 announcement of construction completion at two multifamily communities totaling 557 units, Cavella in Charlotte, North Carolina, and The Arrowood in Charlottesville, Virginia 7.
Representative completed programs
On January 10, 2022, Griffin Capital announced the sale of a 62,237-square-foot Emeryville, California office property held by Griffin Capital (Shellmound) Investors, DST for $36 million after an approximately 15-year hold, reporting a realized net total return of about 427% and a 12.26% net internal rate of return 8.
In February 2022, the sponsor reported the sale of South Beach Apartments in Las Vegas, Nevada, held by Griffin Capital (South Beach – Vegas) DST, for $97.5 million, citing a 175.3% realized net total return and a 1.76x equity multiple 9.
On July 8, 2024, Griffin Capital reported the sale of Heritage on the Merrimack Apartments, a 240-unit Bedford, New Hampshire community held through Griffin Capital (Heritage – Bedford, NH) DST, for more than $80 million after a 5.6-year hold, citing an approximately 166.6% realized net total return and a 12.9% average annualized return 10.
Earlier Griffin Capital programs, listed in a sponsor-reported prior-performance table filed with the SEC, included tenant-in-common and DST offerings holding office, industrial and retail assets, among them the November 6, 2015 sale of the Jefferson City, Missouri industrial and attached-office property held by Griffin Capital (Highway 94) Investors, DST for approximately $31.9 million 11.
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- sec.gov ↗Public record