Security Properties
- Company typePrivate
- Founded1969
- HeadquartersSeattle, United States
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
Security Properties firmographics
Firmographics- Name
- Security Properties
- Legal name
- Security Properties, LLC
- Website
- https://securityproperties.com
- Company type
- Private
- Founded year
- 1969
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Ownership category
- akta.pro rank
Security Properties industry classification
Industry- Product category
- Multifamily Real Estate Investment
- NAICS
- Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Other Financial Investment Activities (5239)
- SIC
- Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531)
- akta.pro primary industry
- Real Assets — Operating Platforms & Direct Investments (FSAAAKAL)
- akta.pro secondary industries
- Real Estate Funds — Core (Stabilized, Income) (FSANAEAF), Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)
Keywords
Where Security Properties is headquartered
LocationHeadquarters
- HQ city
- Seattle
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Security Properties business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Rental Income from Owned Multifamily Assets: Security Properties owns and invests in multifamily assets generating recurring rental income from residential units across conventional, affordable, and development property types. The portfolio spans ~22,540 units across 110+ assets.
- Asset Management & Investment Management Fees: Security Properties earns fees through investment management activities, including managing private equity funds and joint venture investments for institutional partners. The firm has raised and deployed six funds investing in more than 20,000 units with a cost basis over $4.5 billion.
- Acquisition & Disposition Transaction Fees: The firm generates revenue through acquisition and disposition of multifamily assets. In 2025, the company made eight market-rate acquisitions totaling nearly $700 million, plus completed the $400.8 million Washington Holdings portfolio acquisition and the $51 million Rosemont West 84th acquisition.
- Property Management Services (Sunset): Security Properties historically operated a property management subsidiary (Security Properties Residential) managing ~19,000 units. In March 2026, the company exited property management by transferring operations to Bozzuto and other third-party managers, phasing out this revenue stream.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Market-rate apartment rentals (conventional) |
| Subscription | Monthly | Affordable housing apartment rentals |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
Security Properties product offering
Product offeringCore offering
Security Properties is a Seattle-based real estate investment firm that owns, acquires, develops, and manages a diversified multifamily housing portfolio of approximately 22,540 units across 110+ assets valued at roughly $6 billion. It operates three core business lines: conventional (market-rate) multifamily investments, affordable housing utilizing LIHTC and HUD programs, and ground-up urban development, while also raising and deploying private equity funds on behalf of institutional capital partners.
Product overview
Security Properties operates a diversified multifamily real estate investment and ownership platform organized around three core business lines: Conventional Investments (market-rate acquisition of value-add and opportunistic multifamily assets), Affordable Housing (LIHTC and government-subsidized affordable apartment acquisition and development), and Development (urban mixed-use multifamily in Seattle and Portland). The company was founded in 1969 and has invested over $2.0 billion of equity representing a portfolio of ~$6.0 billion across 110+ assets and ~22,540 units. Its affiliated property management subsidiary, Security Properties Residential (SPR), manages day-to-day operations; as of 2026, SPR transitioned to a third-party management model with Bozzuto as primary manager. Residents are served via the Entrata-powered Resident Portal and Apartment Search Platform, while investors access fund data through a Juniper Square portal. Recent growth has been concentrated in the Pacific Northwest (Seattle portfolio of 903 units acquired 2025), Denver (Rosemont West 84th, 300 units, December 2025), and select Sun Belt markets. The company also operates community initiatives including Move for Hunger and Acquisition Impact Grants.
Differentiator
Problem solved
Functional benefit
Products and services
- Conventional Multifamily Investments Acquisition and ownership of core-plus, value-add, and opportunistic market-rate multifamily assets sourced off-market or thinly marketed, with upside achieved through physical enhancements and improved management. Targets the Pacific Northwest, Sun Belt, and select East Coast markets for institutional capital partners.
- Affordable Housing Program Acquisition, development, and preservation of affordable apartment communities using 4% and 9% low-income housing tax credits, tax-exempt bonds, HUD programs, joint-venture equity, and mixed-income structures. Active portfolio spans 7,455 affordable units.
- Multifamily Development Ground-up urban mixed-use multifamily development in target 'town center' locations emphasizing walkability, sustainability, and public art. Current focus is the greater Seattle metropolitan area and Portland, Oregon, with 1,138 units across active development projects.
- Investment Management Services Investment management services for institutional capital partners across private equity funds and joint ventures, with fee-based oversight of acquisition, asset management, construction management, and disposition functions for multifamily portfolios.
- Resident Portal Entrata-powered online resident portal allowing tenants to connect with property management, pay rent, and submit maintenance work orders twenty-four hours a day, seven days a week.
- Apartment Search Platform Web-based apartment search and property portfolio browsing tool allowing prospective residents to discover and request information on available homes across the Security Properties portfolio in Seattle, Las Vegas, Oregon, Colorado, Nashville, Eastern Washington, Texas, Phoenix, California, and other markets.
- Investor Portal Private investor portal hosted on Juniper Square providing Security Properties' institutional capital partners and fund limited partners with access to portfolio data, fund performance reporting, and investment communications.
Quantifiable outcome
- 27.2% IRR and 3.3x equity multiple on Security Properties Multifamily Fund II (launched late 2013, 13 assets)
- +4 more outcomes
Companies that use Security Properties
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles3 records
Security Properties technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Security Properties partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- BozzutocoreSecurity Properties selected Bozzuto as its primary third-party property management provider as part of a strategic exit from direct property management. The partnership covers approximately half of SP's portfolio (30+ communities, ~9,000 units) in the Pacific Northwest, with Bozzuto assuming management responsibilities in phases. Approximately 400 on-site employees and a third of SP's corporate staff joined Bozzuto. This represents Bozzuto's major geographic expansion into the Pacific Northwest, becoming its fourth-largest market.
- Eastdil SecuredminorEastdil Secured represented the seller (Washington Holdings) in the $400.8 million five-property, 903-unit Seattle portfolio transaction. Eastdil is a leading multifamily real estate investment banking firm.
Scale indicators17 records
Recent moves7 records
Expansion highlights6 records
Security Properties competitors and assessment
Company assessmentBroad incumbents
- AvalonBay Communities:
- Greystar Real Estate Partners: Greystar is the largest multifamily property manager, developer, and investment manager globally, with $300B+ in AUM. It directly competes with Security Properties in multifamily investment management and property management (Bozzuto's new relationship arguably strengthens SP's comparison to Greystar's full-service model).
- Equity Residential: Equity Residential is a publicly-traded REIT focused on urban and high-density multifamily markets including Seattle, Denver, and the Pacific Northwest. It competes with Security Properties for institutional capital, talent, and acquisition targets in overlapping markets.
Direct peers
- Bell Partners: Bell Partners is a privately-held multifamily owner-operator and investment manager with deep institutional relationships. SP's CIO Mark Bates previously served as SVP of Investments at Bell Partners, signaling overlapping sourcing networks and investor bases in the conventional multifamily space.
- Holland Partner Group: Holland Partner Group is a Pacific Northwest-focused multifamily owner/operator with a similar West Coast institutional investment strategy. SP's CIO Mark Bates previously served as Executive Managing Director of Investment Management at Holland, indicating directly overlapping deal pipelines and Pacific Northwest concentration.
- Harrison Street Asset Management: Harrison Street is a Chicago-based alternative investment manager focused on real estate and infrastructure. It is a current co-investor with Security Properties (e.g., Olin Fields), making it both a partner and a comparable institutional multifamily fund manager with overlapping LP and operating structures.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Security Properties social profiles
Digital presenceSecurity Properties financial estimates
Financial estimateRevenue estimate
Valuation estimate
Security Properties leadership team
Management profileNumber of profiles
Profiles13 records
Security Properties subsidiaries and ownership
Company hierarchySubsidiaries2 records
Security Properties funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Security Properties M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Security Properties
What does Security Properties do?
Security Properties is a Seattle-based real estate investment firm that owns, acquires, develops, and manages a diversified multifamily housing portfolio of approximately 22,540 units across 110+ assets valued at roughly $6 billion. It operates three core business lines: conventional (market-rate) multifamily investments, affordable housing utilizing LIHTC and HUD programs, and ground-up urban development, while also raising and deploying private equity funds on behalf of institutional capital partners.
Is Security Properties a public or private company?
Security Properties is a private company. It is classified as unknown and is currently operating.
When was Security Properties founded?
Security Properties was founded in 1969. It employs 251 to 500 people.
Where is Security Properties based?
Security Properties is headquartered in Seattle, United States, in the North America region.
How does Security Properties make money?
Four revenue lines are on record. Rental Income from Owned Multifamily Assets are the primary driver. The others are asset Management & Investment Management Fees, acquisition & Disposition Transaction Fees and property Management Services (Sunset).
Who are Security Properties's main competitors?
Broad incumbents on record are AvalonBay Communities, Greystar Real Estate Partners and Equity Residential. Direct peers are Bell Partners, Holland Partner Group and Harrison Street Asset Management.
Does Security Properties have an API?
No public API is recorded for Security Properties.
What industry is Security Properties in?
Security Properties's product category is Multifamily Real Estate Investment. Its primary akta.pro industry code is FSAAAKAL, Real Assets — Operating Platforms & Direct Investments, with a secondary code of FSANAEAF, Real Estate Funds — Core (Stabilized, Income). Its NAICS code is 5259 and its SIC code is 6532.