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May 20, 2010

Security Properties

Seattle-based Security Properties acquired the general partner and majority economic interests in the ownership of Diamond at Prospect, a 140-unit multifamily property in Denver. Tim Overland, managing director of affordable housing, said Security assumed the existing debt and contributed new equity for a total property value of $10.2 million. The property was built in 2005, using federal low-income housing tax credits. Security has started acquiring interests in LIHTC housing.




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