Japanese investor enters Denver multifamily market

Security Properties and Tokyu Land US Corporation have purchased Summit Riverside, a multifamily property located in Littleton, Colo., for $78.5 million.

Security Properties now owns five market-rate assets totaling more than 1,500 units in Colorado, having successfully sold two prior assets in 2020 and 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-bedroom and two-bedroom floorplans with an average unit size of 777 square feet.

The property is located in Littleton on the South Platte River. The site is characterized by its mature landscaping and park-like feel with 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 charmi