Madrona Ridge Residential to be Fully Integrated Into Security Properties Under New Leadership

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Jul 10, 2017, 08:40 ET

SEATTLE, July 10, 2017 /PRNewswire/ -- On July 10, 2017, Madrona Ridge Residential, an affiliate of Seattle-based Security Properties, is being fully integrated into Security Properties and rebranded as Security Properties Residential. As part of this integration, Security Properties is also announcing that Mike Voorhees, formerly of Holland Residential and Holland Partner Group, has recently joined Security Properties Residential as President.

Mike Voorhees - President, Security Properties Residential

According to David Dufenhorst, CEO of Security Properties, "We are very fortunate to have found Mike Voorhees, who is clearly a cultural match for us, especially with his deep skills and experience. We look forward to Mike's leadership in growing our property management platform."

As Security Properties Residential, the firm's existing 426 employees will continue to provide exceptional residential management services for Security Properties residents, its high-net worth investors, and its institutional real estate partners and lenders. Madrona Ridge was created in 2010, after a 15 year non-compete related to the sale by Security Properties of its prior management company expired. Its purpose is to increase the value of its real estate holdings by more closely managing its assets.

Mike Voorhees, Managing Director and the new President of Security Properties Residential, stated: "I look forward to building on the talent, experience and systems that have allowed Security Properties Residential to reach the point where it is today and to help expand the platform to serve the needs of our residents, partners and investors."

Operating throughout the Western U.S., Security Properties Residential is committed to delivering exceptional service to its apartment communities and their residents. Services include property, construction and compliance management services that create positive living environments for residents and build value for investment clients.

Under this new organization, Security Properties Residential will have a unified brand and organization, and will be further integrated with the Security Properties platform to enhance coordination and risk management.

About Security Properties
Security Properties is a national real estate investment, development, and operating company headquartered in Seattle, Washington. For nearly 50 years, Security Properties has provided quality housing to its residents as well as excellent financial performance for its investors. Since its founding, Security Properties has acquired or developed over 81,600 residential units at a cost of over $5 billion. Security Properties maintains a focused multi-family strategy supported by integrated teams of professional acquisition, development, construction, investment, and property management specialists. For more information, visit www.securityproperties.com

News media contact:
Ed McGovern, 206.622.9900
[email protected]

SOURCE Security Properties