AUSTIN—Denver-based Griffis Residential has acquired Falcon Ridge Apartments, a 296-unit class-A multifamily community located in the South Congress submarket.

“Falcon Ridge Apartments is an institutional quality asset in a superior location near Austin's employment-rich Central Business District,” says Griffis Residential executive chairman Ian Griffis. “Falcon Ridge is a perfect choice for renters who are looking for close proximity to Austin's urban employers and high-quality amenities at a more attractive price point than new midrise properties in the area.”

Falcon Ridge Apartments has been renamed Griffis SoCo Austin. Built in 2000, Griffis SoCo Austin is located adjacent to the Williamson Creek Greenbelt and within a 10-minute commute to Austin's CBD. The garden-style property offers one- to three-bedroom apartments with nine-foot ceilings, ranging in size from 590 to 1,256 square feet. The gated community features a clubhouse, fitness center, reserved covered parking, two pools and a spa.