Momentum at First Creek, a 200-unit apartment community in Denver, has traded for $56 million. The pricing equates to approximately $280,000 per unit, according to information reported by the Denver Business Journal. The buyer is Peak Capital Partners, which acquired the property as a stabilized, recently delivered multifamily asset.
The community is located at 5500 Telluride Street and was completed in 2023. Momentum at First Creek offers a range of resident-focused amenities, including a swimming pool and an outdoor kitchen equipped with a pizza oven. The property also features a fitness center and a clubhouse that incorporates a game room and collaborative workspaces, reflecting contemporary tenant preferences for both recreation and flexible work environments within the community.
Massimino is credited as the developer of the rental community, bringing the project to completion last year. Bell Partners has served as the manager of the property, overseeing day-to-day operations at the time of the sale. The transaction reflects ongoing investor interest in newer-vintage multifamily properties with modern amenity packages.
On the financing side, Colliers Debt and Structured Finance provided financing for the property on behalf of Peak Capital Partners. While specific loan terms were not disclosed, the involvement of a dedicated debt and structured finance team indicates that the capital stack for the acquisition included a structured debt component arranged for the buyer.
Colliers also played a role on the investment sales side of the transaction. Craig Stack, Bill Morkes, and Nate Moyer from Colliers’ Denver office represented the seller. Their assignment included marketing the asset and advising the seller through the sale process, culminating in the closing with Peak Capital Partners as the buyer.
Momentum at First Creek’s recent completion, full amenity set, and institutional management profile underscore its positioning as a modern multifamily community within the Denver apartment market. The combination of an established manager, a new institutional buyer, and advisory support on both the sales and financing sides highlights continued capital flows into the multifamily sector, particularly for recently delivered communities with current-generation amenities.
