Griffin Scores Refi For Austin Apartments

Griffin Capital’s latest refinancing shows what it takes to get a cash infusion in Austin’s sluggish multifamily market.

The Los Angeles-based investor landed a $47 million loan for an apartment complex it completed in 2024 near the Domain. The loan will be used to refinance 1900 Parmer, a 364-unit apartment complex at 1900 East Parmer Lane, according to a release from Berkadia. Hancock Whitney Bank provided a $34.3 million construction loan for the property in 2020, according to loan documents.

Berkadia’s Mitch Sinberg, Scott Wadler, Brad Williamson, Matt Robbins and Patrick Johnson arranged the deal. The refinancing, which was provided by Boston-based MF1 Capital, works out to $129,000 per unit. The property was last valued at $65.5 million, appraisal district records show.

The apartment complex was 98 percent occupied when the loan closed, according to Berkadia. It offers studios and one- and two-bedroom apartments, plus amenities like a pool, gym, dog park and clubhouse.

Austin’s multifamily market tanked after a glut of new apartments were built at the same time, causing rents and occupancy to drop. As a result, it’s tougher to get fresh financing for local projects, but 1900 Parmer has the dual benefit of being a new property in a high-growth area.

The property is in north Austin about six miles from the Domain, the city’s premier office destination. As tech companies reverse the trend of gobbling up Austin office space, the Domain has persisted as a strong office submarket. In 2025, the area netted one-third of the space among the city’s largest office leases.

Griffin developed 1900 Parmer as part of its first Qualified Opportunity Zone Fund. The firm has since launched additional Opportunity Zone funds, raising a total of $2 billion in equity. The funds manage a portfolio of 32 properties in various stages of development across the Sun Belt.