The properties acquired are: Mallard Cove, a 198 unit complexlocated north of Seattle in Everett, WA; Gilman Meadows, a 125-unitcomplex located east of Seattle in Issaquah, WA; and Mountain View,a 241-unit complex located south of Seattle in Fife, WA.
SPI says it has plans exterior painting, upgraded landscapingand clubhouse remodels at all three properties. The company alsoplans to update unit interiors and add washers and dryers to someunits.
Security Properties acquired Mallard Cove and Gilman Meadows ina partnership with Capmark Finance. It acquired Mountain View in apartnership with Equity Resources Investments LLC.
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