Griffis at Riata rebranding under new ownership

AUSTIN – Draper and Kramer has acquired The Griffis at Riata, a 307-unit multifamily property at 5705 Diehl Trail. The property will be rebranded DK Riata.

Completed in 2017, the rental community spans 16.9 acres in the heart of the city’s tech district, across the street from Apple’s corporate campus, which houses 6,000 employees.

The community has 195 one-bedroom and 112 two-bedroom units across 17 buildings, including five three-floor apartment buildings and 12 two-story rental townhomes. 

Apartments at DK Riata start at 713 sf, costing $1,650 per month.

Some first-floor apartments have private fenced-in yards. Amenities include co-working spaces, a resident lounge, and two large fitness centers offering on-demand fitness classes. Other outdoor amenities include a resort-style pool with loungers and cabanas, a two-grill outdoor kitchen, and a large fire pit area.

The property was 95 percent leased at time of purchase.​