Security Properties and Tokyu Land US Corporation purchased Summit Riverside, a multifamily property located in Littleton, CO for $78.5 million. Security Properties now owns five market-rate assets totaling over 1,500 units in Colorado, having sold two prior assets in 2020 and 2021. The Property is Tokyu's first investment in the Denver MSA.
Summit Riverside consists of 248 units spread out across 21 residential buildings located directly adjacent to the South Platte River. The residential units are a mix of studio, one and two-bedroom floorplans with an average unit size of 777 square feet.
Summit Riverside is surrounded by major retail including three shopping. Additionally, Historic Downtown Littleton is less than five minutes from the property, offering boutique shopping, dining, and additional entertainment options.
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