Behind the Business

Ian Griffis is Co-Founder and CO-CEO of Griffis Residential, a Denver-based vertically integrated apartment investment fund manager and property operator with approximately 8,000 units under management.

Mr. Griffis has been structuring multifamily real estate investments since 1986. With the onset of the RTC crisis in 1989, Mr. Griffis expanded the management operation, focusing on assisting owners in maintaining occupancy during this distressed period, while simultaneously building the investment portfolio.

After the sale of the predecessor company Griffis/Blessing, Mr. Griffis, along with partners David Birnbaum and shortly thereafter Tom Barta, established the fund business in 2004. An operations-focused investment culture, with a priority on enhancing the resident experience, continues to be a key value driver in achieving returns above industry benchmarks. In 2023, Griffis Residential’s closed-end multifamily fund series achieved global recognition from the private equity data firm PitchBook, securing the fourth position in real-estate value-add, and was the only multifamily specialist on the PitchBook list. Currently, Griffis Residential manages a series of six closed-end value-add funds and an open-ended core fund, for a client base of institutions and high-net-worth individuals. The current portfolio includes communities in Denver, Austin, Seattle, Portland, San Diego, Silicon Valley, and Los Angeles. Target markets extend to other centers of innovation, including Washington DC metro, Atlanta, Dallas, and Raleigh-Durham.

Mr. Griffis has a strong interest in conservation and has implemented four conservation easements: the assemblage and creation of an 800-acre public park; the preservation of an archeological site, and a section of the historic Cherokee Trail for which he was awarded the Friends of The Oregon Trail Award.

Together with David Birnbaum and Tom Barta, he is a founding board member of Griffis Residential Gives, a not-for-profit formed to address personal distress and the contributing causes of homelessness.

Mr. Griffis is a former Trustee of Colorado College and the Fountain Valley School. He is a member of the William Jackson Palmer Society at Colorado College.

Mr. Griffis holds a B.A. from Colorado College.

Mr. Birnbaum has been Co-Chief Executive Officer since the founding of Griffis Residential and the Prior Funds, sharing responsibility for strategic management of Griffis Residential and its investment activities. In addition to being a member of the Griffis Residential Investment Committee, he manages the execution of major investment activities and investor reporting.

Prior to Griffis Residential, Mr. Birnbaum was CEO of Tablogix, a European-based contract logistics and warehousing company. Founded in 1994, Mr. Birnbaum oversaw its expansion into multiple international markets and managed the company’s sale and relocation to London in 1998, where he continued as CEO until 2003.

Mr. Birnbaum holds a B.A. from Colorado College and an M.B.A. from Dartmouth’s Amos Tuck School. He currently chairs the Museum Committee for the Colorado Springs Fine Arts Center at Colorado College, and is a trustee of the Denver Art Museum.

Mr. Barta, President and Chief Operating Officer, is responsible for Griffis Residential’s asset management initiatives and overseeing property operations and finance functions. Mr. Barta is a member of the Fund V Investment Committee. Prior to joining Griffis Residential in 2005, Mr. Barta served as Corporate Controller for Westmoreland Coal Company, a publicly-traded company, for four years, where he oversaw all financial and accounting functions. From 1994 to 2001, Mr. Barta was in the audit practice in the Denver, Colorado office of KPMG.

Mr. Barta holds a B.A. from the University of Colorado, Boulder.

Mr. Souther is the Chief Financial Officer for Griffis Residential and is responsible for finance, reporting, accounting, and tax administration. Prior to Griffis Residential, Mr. Souther was with Denver-based D4 Urban, LLC, where he served as Chief Financial Officer. Prior to his move to Denver, Mr. Souther was Chief Financial Officer of the US subsidiary of a publicly-traded multinational property development and management company. Mr. Souther brings 20 years of accounting experience to Griffis Residential and an extensive background in leadership of key areas of finance for the real estate, construction, and professional services sectors. Mr. Souther serves as the Chief Compliance Officer in connection with Griffis Residential’s status as a Registered Investment Advisor.

Mr. Souther is a Certified Public Accountant and holds B.S. and M.S. degrees in Accounting from Wake Forest University.

Mr. Stenovec is responsible for overseeing the firm’s capital raising, product development and client servicing efforts. Prior to joining Griffis Residential, he was a Team Leader in Global Client Relations at Grantham, Mayo, Van Otterloo & Co. and had also co-founded the hedge fund RBI Capital. Previously, Mr. Stenovec was Executive Vice President and Co-Head of North American Client Relations and Marketing at Capital Guardian Trust Company where he also served on the Board of Directors. He started his investment career at Goldman, Sachs & Co. in private wealth management and then moved into institutional client relations at Goldman Sachs Asset Management.

Mr. Stenovec earned his B.A. in Economics from the Colorado College and his M.B.A. from Harvard University Graduate School of Business. He currently serves as a Trustee on the Board at the Colorado College.

Ms. Pichot maintains day-to-day responsibility for leading and managing all on-site property management initiatives for Griffis Residential having previously served in on-site and portfolio management roles for the company. Prior to joining Griffis Residential in 2007, Ms. Pichot was a community manager at Simpson Property Group.