Security Properties and Enterprise Community Investment partnered to acquire Hickory Hollow Towers and Colony Square Apartments on Jan. 31, 2023. This acquisition marks the 10th and 11th joint venture between Security and Enterprise. Financing was provided by Fannie Mae through Berkadia.
Hickory Hollow is a 154-unit, senior affordable housing community located in Antioch, Tenn., and Colony Square is an 80-unit, family affordable housing community located in Smyrna, Tenn. Both properties will benefit from significant renovations, including parking lot asphalt, roof repairs, energy-efficiency upgrades, plumbing repairs and community amenity improvements.
These transactions mark Security Properties’ first acquisition of affordable properties in the state of Tennessee. “We are excited about planting a flag in the Nashville MSA and investing in these communities for the future as we continue to grow our footprint in Tennessee,” said Chase Olson, associate investment m
