SEATTLE, WA – Security Properties in partnership with RGA ReCap Real Estate Investments on behalf of Reinsurance Group of America (RGA) bought Henry Apartments, a 100-unit multifamily property built in 2017 located in Seattle, Washington, for $34,750,000. This strategic go aligns with the city’s evolving work landscape, as remote work declines and demand for conveniently located housing rises.
Amazon’s recent policy requiring employees to work from the office five days a week has significantly impacted downtown Seattle. In January 2025, the city recorded the second-highest weekday worker foot traffic since March 2020, with 2 million unique visitors downtown. This shift underscores the growing need for residential options close to employment hubs.
Henry is in Seattle’s desirable Queen Anne neighborhood, a premier residential area renowned for its historic architecture, tree-lined streets, and breathtaking views. Residents of Queen Anne not only benefit from the neighborhood’s proximity to major employers, but they also delight in simple access to everyday conveniences, shopping, dining, cultural attractions, and outdoor opportunities.
New multifamily residential construction in the area is expected to decline by nearly 70% over the next two years, as development barriers remain high. Coupled with the surge in return-to-office mandates, Henry is uniquely positioned to benefit from limited future competition and sustained demand for rentals. With this acquisition, Security Properties reinforces its leadership in Seattle’s multifamily residential market, meeting the moment as urban living near major employers becomes more essential than ever.
“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.”
Security Properties intends to implement a targeted renovation program building upon the property’s existing high-end finishes while enhancing the amenity offerings to further elevate the resident experience. With the addition of Henry, Security Properties now owns 29 assets totaling more than 6,500 units in the Greater Seattle area and approximately 25,000 units nationwide. The property will be managed by Security Properties-affiliate Security Properties Residential.

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RALEIGH, NC – ECI Group announced the acquisition of Ardmore at Flowers Apartments, an 11-building, 396-unit apartment development at 380 Topwater Drive in Raleigh (Clayton), NC, in the 3,000-acre Flowers Plantation master-plotted community.
The community will be rebranded as The Averly at Flowers. The price was not told in the “off-market” transaction. The investment marks ECI’s first acquisition with Almanac Realty Investors, a division of Neuberger-Berman, since the announcement in October 2024 of Almanac’s $350 million infusion of capital to fuel ECI’s expansion.
“ECI is excited to return to North Carolina and expand our presence in the Southeast with the acquisition of Ardmore at Flowers,” said Scott Levitt, Chief Acquisitions Officer at ECI Group. “We believe this investment represents an brilliant opportunity to buy a new property at well below today’s replacement cost in one of the fastest growing submarkets in North Carolina with a very limited near-term supply of newly constructed apartments. This has historically been a recipe for success. We expect this to be the first of many acquisitions over the next few years in the Southeast and Texas with our new Almanac partnership.”
The re-branded The Averly at Flowers apartments offer all the modern features of new development alongside a highly desirable location within the award-winning Flowers Plantation in Clayton. Residents delight in simple access to community anchors Publix, Harris Teeter, and the Triangle YMCA, along with an additional 50,000 square feet of commercial space expected by 2026. Walking trails, top-rated schools, shopping, and dining add to the appeal of the community, which has convenient access to I-40 and I-42.

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PENSACOLA, FL – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, hosted a ribbon cutting for The Quinn, a 324-unit Class A multifamily community in Pensacola. The first residents started moving in last fall, and the company expects to complete construction at the end of the summer.
“We’re honored to be part of the Pensacola community and excited to welcome residents to The Quinn,” said Angie Atkins, senior vice president of community management for Thompson Thrift. “We look forward to making a positive impact—both within the neighborhood and in the lives of our residents—through thoughtful design, meaningful connections and a commitment to exceptional living.”
Located near the intersection of W Nine Mile Road and Beulah Rd, The Quinn consists of nine, three-tale garden-style apartment buildings on 18 acres. The one-, two-, and three-bedroom apartment homes average approximately 1,000 square feet and residents will be able to select from a variety of layouts with signature amenities including a balcony or ground-floor patio, private enclosed yards as well as detached single-car garages. The apartment homes are finished with elegant quartz countertops, hardwood-style flooring, stainless steel appliances, high-speed, instant-on internet access, ceiling fans in all bedrooms and the living room, a full-size washer and dryer, smart thermostat and an Alexa-compatible smart hub.
Community amenities at The Quinn include a perfectly appointed clubhouse, a fully equipped fitness center with 24-hour access, a resort-style pool with community grilling areas, fire pits, cabanas, and turf area for outdoor exercise or yard games, pickleball courts, and a dog park with pet spa.
The community is less than one mile east of a Publix Super Market and approximately two miles west of the 9 Mile and Interstate 10 interchange, which provides residents with simple access to downtown Pensacola, and major employers such as Navy Federal Credit Union, Baptist Health Care Campus, Naval Air Station and Pensacola State College.
At the ribbon cutting, visitors were able to tour the model, explore the professionally decorated clubhouse and community amenities. As part of Thompson Thrift’s ongoing commitment to community engagement, they presented a check to local non-profit Keep Pensacola Gorgeous to aid their efforts in preserving the community of Pensacola. They do this by working strategically with community partners to combine education and preservation with hands-on stewardship at a local level.

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