ARA Newmark Brokers $141.5M Sale of 218-Unit Multifamily Community in Denver

by Katie Sloan

DENVER — ARA Newmark has brokered the $141.5 million sale of Steele Creek, a 218-unit luxury multifamily community located in the Cherry Creek neighborhood of Denver.

The community offers studio, one- and two-bedroom units. Shared amenities include a rooftop deck with an infinity pool, spa, fireplace, cabanas, daybeds, high-end grills and dining areas; a clubroom with billiards and a virtual golf/sports simulator; and a business lounge.

The property also features ground-floor retail space leased to Matsuhisa Restaurant, AT&T and Drybar.

The 12-story development is located across the street from Cherry Creek Shopping Center, home to over 160 retailers including Nordstrom, Neiman Marcus, Macy’s and Restoration Hardware.

Terrance Hunt, Shane Ozment, Jeff Hawks, Doug Andrews and Chris Cowan of ARA Newmark represented the seller, Denver-based real estate investment company BMC Investments, in the transaction. The buyer was not disclosed.

Katie Sloan

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