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Security Properties and Enterprise Community Investment have acquired Hickory Hollow Towers in Antioch, TN and Colony Square apartment community in Smyrna. TN.

Security Properties Makes Initial Foray into Tennessee’s Affordable Multifamily Market

Seattle, WA-based Security Properties and Enterprise Community Investment have partnered to acquired Hickory Hollow Towers, a 154-unit, senior affordable housing community located in Antioch, TN, and Colony Square, an 80-unit, family affordable housing community located in Smyrna. TN.

Financing was provided by Fannie Mae through Berkadia.

The acquisitions mark the 10th and 11th joint venture between real estate investment firm Security Properties and Columbia, MD-based Enterprise Community Investment. The transactions also mark Security Properties’ first acquisitions of affordable properties in TN.

“Hickory Hollow Towers and Colony Square are important assets that provide crucial affordable housing in a market that has seen a significant increase in rents and a decrease in market-rate affordability,” said Sean Burrowes, Security Properties’ director of affordable housing. “Security Properties is committed to providing safe, high quality and service enriched housing and looks forward to ensuring that these properties remain affordable for future generations of seniors and families.”

Photo: Colony Square


Inside The Story

Security Properties' Burrowes

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.