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SEATTLE-Locally based Security Properties has closed its Security Properties Multifamily Fund, launched in June 2011. The fund acquired, both directly and through joint ventures, 2,471 apartment units located in the Seattle, Portland, the San Francisco Bay Area and Phoenix markets.

The total acquisition cost of the fund’s 17 apartment properties was approximately $390 million. The fund included a diversified portfolio of moderately leveraged apartment properties offering attractive risk-adjusted returns to investors.

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