Security Properties Acquires Spokane-Area Apartment Complex.
MANews-(C)2009-2022
Seattle, US-based real estate investment, development, and operating company The Security Properties has acquired Spokane-area Mt. Vernon Terrace Apartments, in a transaction led by Bryon Gongaware, managing director of Affordable Housing, the company said.
Terms of the transaction were not disclosed.
Mt. Vernon consists of 99 units, of which 74 benefit from a property-based housing assistance payment contract administered through the United States Department of Housing and Urban Development.
Security Properties plans to invest in improvements over the next year, extending the affordability of the rental units for the long-term.
Construction will be completed by Walker...
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