Security Properties, in partnership with RGA ReCap Inc. on behalf of Reinsurance Group of America Inc., has acquired Seattle’s 100-unit property Henry Apartments for $34.7 million.
Henry Apartments was built in 2017, and Security Properties is planning a targeted renovation program building upon the property’s existing high-end finishes while enhancing the amenity offerings to further elevate the resident experience. The property will be managed by Security Properties-affiliate Security Properties Residential.
With the addition of Henry Apartments, Security Properties now owns 29 assets totaling more than 6,500 units in the Greater Seattle area and approximately 25,000 units nationwide.
“Henry exemplifies our strategy of investing in high-quality assets located in premier, supply-constrained neighborhoods with exceptional connectivity to employment and lifestyle amenities,” said Daniel Diaz, director at Security Properties. “The Queen Anne neighborhood continues to benefit from renewed return-to-office momentum, particularly with major employers drawing talent back to the urban core. This shift is already translating into stronger leasing activity across our urban portfolio, and Henry is well-positioned to capture that demand given its proximity to South Lake Union and Downtown Seattle.”
