Security Properties and Pacific Life Buy New Multifamily Development
Security Properties and Pacific Life recently purchased Anthology, a 398-unit new construction multifamily property for $163 million, saying the opportunity to own scale off-market in Issaquah was something it could not pass up.
ISSAQUAH, WA— Security Properties and Pacific Life recently purchased Anthology, a 398-unit new construction multifamily property for $163 million. Security Properties now owns more than 120 assets totaling 24,500 apartment units across its portfolio, including 5,600 units in the Puget Sound region.
“The opportunity to own scale off-market in Issaquah was something we could not pass up,” says Davis Vaughn, senior director at Security Properties. “The combination of outstanding schools, proximity to employment and lack of future supply results in a dynamic location with long-term upside. As the most active Seattle area multifamily buyer in 2019, we remain very committed to the region and are excited to add this core asset to our portfolio.”
The property will be managed by Security Properties Residential, an affiliate of Security Properties.