Security Properties Taps Bozzuto for Management Services
The company’s portfolio includes more than 100 properties.
Security Properties is moving its property management operations from an in-house model to third-party providers. The company tapped Bozzuto to provide property management services.
The agreement represents a major expansion for Bozzuto and enhances its Seattle presence, becoming its fourth-largest market.
By transitioning to a third-party property management model, Security aims to accelerate their growth, enhance capital deployment and expand its investment footprint across key U.S. markets. Security Properties currently has assets only in the Pacific Northwest, with plans calling for taking its investment platform nationally.
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The change reflects Security’s broader strategy to simplify its operating structure, while placing greater emphasis on its role as a real estate investor. The company is sharpening its focus on market-rate acquisitions, affordable housing and investment management.
Bozzuto will take over management responsibilities for the transitioning properties in phases, while aiming to maintain service continuity and operational stability. About half of Security Properties’ current portfolio is expected to move onto Bozzuto’s platform over the coming months, while the remaining assets will be evaluated through a competitive RFP process to ensure best-in-class operating partnerships across the portfolio.
Security’s collection currently comprises 110 multifamily assets totaling 22,540 apartments, according to its website. Its value is estimated at approximately $6 billion.
Security Properties’ growing multifamily portfolio
Security Properties has acquired or developed more than 110,000 units across north of 670 assets since its founding, for a total value of about $12.9 billion. In 2025 alone, the firm made eight market-rate acquisitions totaling nearly $700 million.
Across last year’s acquisitions, five assets traded in a portfolio transaction. Security Properties paid $400.8 million for a 903-unit Seattle collection to Washington Holdings, marking one of 2025’s largest multifamily deals in the metro.
