SEATTLE, WA – A partnership between Security Properties and an affiliate of Rockwood Capital closed on a three-property portfolio acquisition, the companies announced. The acquisition consists of The Ardea, a 323-unit Class-A multifamily high-rise located in Portland, OR; Windward, a 200-unit Class-A+ mixed-use project in Lake Oswego, OR; and The Metro, a 415-unit Class-A- asset in Denver, CO.
According to Davis Vaughn, Senior Director at Security Properties, “This is one of the most exciting acquisitions in our company’s 50+ year history. Off-market acquisitions of this scale are extremely rare, especially considering the quality of the portfolio. We feel we are buying the premier suburban asset in the entire Portland MSA in Windward, a trophy high rise in Ardea at a basis significantly below replacement cost, and a well-located urban asset in Metro, poised to capitalize on Denver’s continued growth. By adding these flagship assets to our portfolio, we look forward to continuing to grow the SP footprint across the West Coast.”
“Consistent with our over-arching investment thesis regarding the value of a property’s setting, each asset occupies a strategic location within its market, offering its tenants access to outdoor amenities, retail options, and proximity to employment centers,” said Matthew Friedman, a Managing Director of Rockwood Capital. “Beyond their compelling settings, Windward and Ardea are exceptionally high-quality assets while Metro offers a solid value-add opportunity in the dynamic Denver market. Overall, we are extremely excited to be acquiring such a high-quality portfolio of assets in our target markets.”
The Ardea is a 323-unit high-rise apartment community located in the South Waterfront neighborhood of Portland, OR.The neighborhood is a newly developed area situated along the west bank of the Willamette River, just 10 minutes south of Portland’s Central Business District and anchored by the city’s largest employer, Oregon Health and Science University.
The Windward is a 200-unit, three-building, 2018-built community in Lake Oswego, OR, with 14,166 square feet of ground-floor retail. The location is at the heart of downtown Lake Oswego, the zip code with the highest median income in the state of Oregon.
The Metro is a 415-unit apartment community located in Denver, CO. The Metro is located in the Ball Park neighborhood, which provides residents with convenient access to the downtown core and proximate neighborhoods, and within walking distance of Union Station, the central hub of Denver’s regional transit system.
The properties will be managed by Security Properties-affiliate Security Properties Residential.

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CARY, NC – DF Multifamily, a division of Drucker + Falk (DF), one of the nation s most prominent multifamily management companies, recently assumed the leasing (along with Lee & Associates) of The Walker apartments. This new, vibrant mixed-use project in the trending downtown Cary, North Carolina market overlooks Cary Downtown Park with the first apartment homes scheduled to be ready in early 2022.
The Walker consists of 153 apartments and commercial space carved out for restaurants and retail stores. With so many businesses coming to Cary, The Walker will be home to future office developments. Located adjacent to the new state-of-the-art regional library on the corner of Walnut and Kildaire Farm Road, the apartment community will feature an outdoor swimming pool, high-tech fitness center, dog wash station, billiard room, private workstations, a penthouse sky lounge, open floor plans, and high end finishes. The Walker will also be adjacent to downtown Cary s soon-to-be built and iconic Downtown Park.
The Walker is owned and being developed by Academy Park Cary, LLC (APC). APC is a partnership of three multigenerational Cary families and Integrated Asset Advisors. The development companies: Monument Properties, MacKenan, and Triangle Real Estate Company are owned by the Knier, Stephenson, and Zahn families, respectively. The Walker was designed by Cline Design Associates and is being built by Clancy & Theys.
The timing for The Walker could not be better as downtown Cary is experiencing a much-awaited revitalization. Downtown Cary has the urban history and walkability but with the safety and security of an authentic small town, says Bill Zahn, the project’s lead developer. In addition to fine dining, laid back breweries, high-ranked schools, and cultural icons like the Cary Art Center and soon to be built DTC park, residents are within walking distance of all the hotspots and in position to fully delight in Cary, which is truly positioning itself to be a phenomenal place to live, learn, work, exercise, relax, and play.

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LOS ANGELES, CA – CIM Group announced the sale of a 153-unit, five-tale apartment building with approximately 15,000 square feet of ground floor retail and 308 spaces of subterranean parking in West Los Angeles.
The recently completed building has a central location, at 1500 S. Granville Avenue on the south side of Santa Monica Boulevard, an active corridor with public transportation, shops and dining.
The building features a contemporary architectural design and offers a mix of studio, one-bedroom, two-bedroom and live-work unit floorplans with 16 units set aside as affordable. Residents have a variety of indoor and outdoor gathering spaces available for co-working, recreation and socialization that are among the most sought-after property amenities.
Earlier this year, CIM Group sold the adjacent 147-unit apartment community, Elevate, completed in summer 2019, with approximately 39,000 square feet of ground floor retail space that CIM leased to community-serving retailers including Target, Health Spot pet store and AKT Fitness studio. Additionally, The Westgate Collection, three, four-tale buildings with a total of 37 apartment homes on parcels to the south of Elevate which were completed in 2017, were also included in the sale
For more than 25 years, CIM Group has utilized its broad expertise to own, develop, reposition, and operate real estate assets, transforming communities and making dynamic environments throughout Los Angeles as well as throughout the Americas.

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