SEATTLE, WA – Security Properties and Tokyu Land US Corporation bought Summit Riverside, a multifamily property located in Littleton, CO for $78,500,000. Security Properties now owns five market-rate assets totaling over 1,500 units in Colorado, having successfully sold two prior assets in 2020 & 2021. The Property is Tokyu’s first investment in the Denver MSA.
Summit Riverside consists of 248 units spread out across 21 residential buildings located directly adjacent to the South Platte River. The residential units are a mix of studio, one and two-bedroom floorplans with an average unit size of 777 SF.
The Property is located in Littleton, Colorado on the South Platte River. The site is best characterized by its mature landscaping and park-like feel that offers direct access to the Mary Carter Greenway and Platte River trails, which connect to downtown Denver and to the metro area’s extensive network of hiking and biking trails. Littleton features charming main streets, an emphasis on outdoor recreation, and convenient public transit options. Located just 20 minutes outside of downtown Denver and 15 minutes away from the Denver Technological Center (DTC) Business Corridor, residents and businesses alike are drawn to the high quality of life in the area while still enjoying the convenient amenities of a major metropolitan area.
Summit Riverside is surrounded by major retail including three shopping centers and walking distance to King Soopers, providing residents with quick access to many major necessities. Additionally, Historic Downtown Littleton is less than five minutes from the property, offering boutique shopping, quality dining, and additional entertainment options.
According to Tad Johnson, Director at Security Properties, “Summit Riverside is a strong example of one of our primary investment theses, which is to identify desirable and well located Properties within supply constrained submarkets. The unique site-plot offers an attractive setting for Security Properties to make needed improvements to the physical asset. We are very excited to add Summit Riverside to our greater Denver portfolio and look forward to delivering compelling returns to our investors over our hold.”
Ben Cherney, Vice President of Acquisitions for Tokyu Land Corporation added “We are very excited to expand the TLUS footprint with our entry into the Denver market. This investment checks all our boxes: 1. Fantastic location, 2. Opportunity to add value, 3. Fantastic partner. We look forward to being a part of improving this asset and in turn, the living experience for our residents.”
The property will be managed by Security Properties-affiliate Security Properties Residential.

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AUSTIN, TX – Stratus Properties announced that it has completed construction financing for the development of The Saint George, a 316-unit luxury wrap-style multi-family project to be constructed in north-central Austin on Burnet Road.
The Saint George project is located within minutes of the University of Texas, downtown employers, Apple Inc. s new North Austin campus, the Q2 Stadium-home to Austin s major league soccer team Austin FC-and The Domain, an upscale retail, office and residential center with more than 100 stores and restaurants. Construction is expected to commence later this month.
William H. Armstrong III, Chairman of the Board and Chief Executive Officer of Stratus, stated, We are pleased to announce that we have obtained construction financing for The Saint George, another Stratus multi-family project, located in the rapidly growing Burnet corridor in north-central Austin. The Saint George will be a high-quality addition to our portfolio, ultimately adding value to our leasing operations. After project stabilization, we look forward to considering monetization opportunities for this property.
The project is owned by The Saint George Apartments, L.P., a Texas limited partnership and a Stratus subsidiary. The construction financing consists of a four-year construction loan from Comerica Bank to the limited partnership in the amount of $56.8 million, which is secured by the project. Stratus provided a completion guaranty and twenty-five percent repayment guaranty, which will be eliminated once the project meets specified conditions. The remaining estimated project costs are being funded by equity contributed to the limited partnership by Stratus (10%) and an unrelated equity investor (90%). Stratus will also earn development fees and management fees on the project.
Stratus currently expects to achieve substantial completion of The Saint George by mid-2024. Amenities will include a rooftop deck, fitness center, resort pool, bike room and community workspaces. Stratus has entered into a voluntary restrictive covenant to offer 10 percent of total units as affordable units. The project will be built consistent with Stratus sustainability, wellness and conservation goals.

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KILLEEN, TX – Venterra Realty recently bought the Keystone Apartments, a community located in Killeen, Texas. The 212-unit multi-family community offers modern one- and two-bedroom garden-style residences that range from 479 – 916 square feet in six unique floor plans. The apartments feature open concept layouts, private outdoor space, bay windows, vinyl wood flooring, eat-in kitchens, and outdoor storage closets. Located in the Killeen-Temple market along Interstate-35, the area is strategically located between Austin and Dallas/Fort Worth and is within 180 of all 4 large Texas markets (Houston, Dallas/Fort Worth, San Antonio and Austin). Just minutes to I-14 the property is easily accessible to the area’s major employer in Killeen, Fort Hood, a United States Army base that employs 37,000 active-duty military personnel and civilians.
Venterra will complete a unit upgrade program and implement its resident-focused programs such as the Live it. Like it. Guarantee., the 48-Hour Maintenance Guarantee, and SMARTLEASING.
“We have seen brilliant growth in the Killeen area, and are excited to expand our Texas portfolio with the addition of Keystone,” said John Foresi, CEO of Venterra Realty. “Venterra has become known as a company that is committed to providing a market-class living experience, and we look forward to identifying opportunities to further enhance the standard of living at Keystone by implementing Venterra’s customer-focused management platform,” added Venterra Chairman, Andrew Stewart.

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