Griffin Capital Closes Land Acquisition for 132-Unit Lakeside East Build-to-Rent Community in Flower Mound, Texas

Griffin Capital Company announced that it has closed on the land acquisition for Lakeside East, a purpose-built 132-unit townhome community in Flower Mound, Texas. The transaction was completed on behalf of Griffin Capital Residential Partners (GRP), the firm's dedicated build-to-rent investment platform, according to a Nov. 9 announcement.

Griffin Capital's Lakeside East Site and Location

Lakeside East will be built on 9.8 acres within Lakeside Village, a master-planned, mixed-use community on the north shore of Grapevine Lake in Denton County. The announced unit count and site area equate to a density of roughly 13.5 units per acre. Lakeside Village offers walkable access to more than 70,000 square feet of retail, along with dining, recreational trails and lakefront parks. The project is also identified in Griffin's portfolio materials as Summerwell Lakeside East.

The site sits within Lewisville Independent School District, which Griffin described, citing Niche.com data retrieved Oct. 22, 2026, as one of the highest-ranked school districts in Denton County. It is near DFW International Airport and a short drive from the central business districts of both Dallas and Fort Worth, with direct access to FM 2499, SH 121 and I-635, which connect to major employment hubs.

Planned Townhome Mix and Amenities

The community will offer two-, three- and four-bedroom townhomes averaging approximately 1,500 square feet, which implies roughly 198,000 square feet of rentable area across the 132 homes. Every home will include an attached two-car garage, and select homes will feature first-floor primary suites.

Planned community amenities include a centrally located clubhouse, a resort-style pool, a fitness center, pickleball courts and a dog park.

Build-to-Rent Strategy and Executive Comment

Nick Rosenthal, Co-Chief Executive Officer of Griffin Capital Company, said the acquisition reflects the platform's investment approach. "Our strategy is to invest in rental communities that provide residents with differentiated and compelling housing options in markets where we see durable demand and long-term growth, and Flower Mound is a clear example of that," Rosenthal said.

He added that Lakeside East "reflects the platform's focus on quality rental housing in markets with durable fundamentals, where single-family homeownership is not accessible to residents who want to be in that location. We believe that approach positions our investors for resilient, long-term performance and improves housing accessibility for the communities in which we invest."

Griffin Capital's Rental Housing Platform

Griffin Capital describes itself as a full-service real estate investment management firm founded in 1995. As of June 30, 2026, the firm said it has owned, managed, sponsored or co-sponsored approximately $24.6 billion in assets across a range of real estate sectors and investment vehicle structures. Its senior executives and employees have co-invested more than $300 million across its investment platforms, the firm said.

Griffin's investment team is focused exclusively on rental housing, with strategies targeting multifamily, build-to-rent and student housing. The firm's rental housing portfolio includes 41 communities comprising more than 13,600 rental housing units and 693 student housing beds, with a total project value exceeding $4.6 billion. That figure includes appraised value for appraised properties, actual cost for completed and stabilized properties, and budgeted total project costs for properties under construction or in pre-development.

The Flower Mound acquisition follows Griffin's February 2026 purchase of Meadow+Main, a 138-unit purpose-built build-to-rent community in Jenks, Oklahoma, also made for Griffin Capital Residential Partners. Griffin subsequently reported that a $23.5 million build-to-rent Delaware statutory trust tied to the Jenks community was fully subscribed.

Market Context

Lakeside East targets renters seeking larger, attached homes with garages and private entries in a suburban Dallas–Fort Worth location near major employment centers. The townhome format sits between conventional garden apartments and detached single-family rentals, and the planned amenity package is of a type increasingly used by institutional build-to-rent developers to compete with both apartments and for-sale housing.

Sources

• Griffin Capital: Griffin Capital Acquires Land in Flower Mound, Texas for 132-Unit Build-to-Rent Townhome Community