Federal Heights apartment complex sells for over $50 million

Seattle-based Security Properties has reacquired Rosemont West 84th, a 300-unit community in Federal Heights, for a little over $51 million.

The company originally bought Rosemont in 2017 and sold it in 2021 during a period of peak pricing.

The garden-style community offers a variety of studios, one-bedrooms, lofts, two-bedrooms and townhomes, with nearly 90% of units already renovated with upgraded finishes and modern features.

“This acquisition highlights our ability to move decisively when we identify opportunities that align with our long-term investment philosophy,” said Mark Bates, Chief Investment Officer at Security Properties.

The acquisition strengthens Security Properties’ long-standing presence in the Denver region, which the company first entered in 2010.

The company regained ownership of Rosemont at about one-third below its 2021 sale price and more than 50% below replacement cost. This marks the 13th property Security Properties has owned in the Denver metro area.

While overall investor interest in Denver has softened, Security Properties said it remains bullish, as the acquisition reflects the company’s broader strategy of expanding across key growth markets.

“Even as Denver moves through a period of normalization, its long-term fundamentals remain compelling,” Bates said.

The purchase marks the company’s eighth market-rate acquisition of 2025, pushing year-to-date spending to nearly $700 million.