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Renovations

Securities Properties purchased First Hill's 52-year-old Panorama House high-rise for almost $74M, now it sounds like security is the one thing they're taking away from the building's tenants. CHS got wind that the the new owner and building management company Madrona Ridge Residential will be forcing out all tenants as to renovate the entire building. Securities says they're offering tenants "financial relocation assistance" and refunded security deposits. Left unsaid is that those tenants probably won't be able to afford the building once it's renovated. [CHS]