Security Properties Closes $200M Multifamily Fund VI
Security Properties, a Seattle-based real estate investment, development and operating company, has completed its final call for Security Properties Multifamily Fund VI, a $200 million, moderately leveraged private equity real estate fund. The fund invests primarily in joint ventures as the General Partner.
Fund VI has invested in 28 apartment communities in 11 MSA’s, from the Nashville and Austin Metros to the West Coast. 80% of the fund’s committed equity is in co-GP investments, where members participate as LP’s of the General Partner, an affiliate of Security Properties, and have an opportunity to participate in the General Partner’s share of any promoted returns.
“Security Properties has had a long history of working with private individuals to invest in multifamily real estate going back to its founding in 1969,” said Ed McGovern, the firm’s Managing Director of Capital Markets. “We structure our investments so that interests are aligned for all participants and offer the ability for our investors to participate in a large portfolio of institutional apartment real estate.”
Pictured: Security Properties Fund VI Acquisition in Salem, OR