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May 24, 2018

Security Properties buys in Phoenix

Security Properties and partner Oaktree Capital Management closed on the purchase of Pavilions on Central, a 254-unit garden apartment property in Phoenix. The $59 million deal brings Security Properties' Phoenix area holdings to nine multifamiliy properties with over 3,700 units. The Pavilions was developed in 2000, with units ranging from one- to three-bedrooms. Security Properties' Davis Vaughn says upgrades and new amenities are planned. The townhome-style units are in the Midtown neighborhood and near light rail.




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