Security Properties, in partnership with RGA ReCap Incorporated, has purchased the Henry Apartments, a 100-unit multifamily property built in Seattle, Washington, for $34.75 million.
Built in 2017, the property is located in Seattle’s Queen Anne neighborhood, offering access to shopping, dining, cultural attractions, and outdoor opportunities. “The Queen Anne neighborhood continues to benefit from renewed return-to-office momentum, particularly with major employers drawing talent back to the urban core,” said Daniel Diaz, Director at Security Properties.
The firm cited Amazon’s recent policy requiring employees to work from the office as a driving force for a growing need for residential options close to Seattle employment hubs. Security Properties intends to implement a targeted renovation program.
With the addition of Henry, Security Properties now owns 29 assets totaling more than 6,500 units in the Greater Seattle area and approximately 25,000 units nationwide. The property will be managed by Security Properties-affiliate Security Properties Residential.
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