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January 10, 2013

Security Properties

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Redwood Park is a 156-unit apartment complex in Santa Rosa, Calif.

Seattle-based Security Properties teamed with Real Estate Capital Partners of New York to purchase Redwood Park, a 156-unit apartment complex in Santa Rosa, Calif., for $24.5 million. This is the 13th purchase the company has made using its multifamily fund. Security Properties said it has made investments in properties worth $270 million since mid 2011 using the fund. Security Properties will upgrade the complex, which was built in 1986, and use its inhouse property management company, Madrona Ridge Residential. Security Properties said it has bought and developed 66,651 units at a cost of $3.35 billion. The company has sold 50,494 units valued at more than $2.75 billion.




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