Colliers Brokers $56 Million Multifamily Sale of 200-Unit Momentum at First Creek in Denver
Colliers' Multifamily Advisory Group has arranged the $56 million sale and financing of Momentum at First Creek, a 200-unit luxury apartment community located at 5500 Telluride Street in Denver, Colorado. The transaction closed March 31, 2026, with a local Colorado-based developer selling to a private out-of-state investment firm, according to an announcement from Colliers.
The deal values the property at approximately $280,000 per unit. No cap rate was disclosed.
Property Overview and Location
Completed in 2023, Momentum at First Creek is a suburban apartment community situated in Denver's northeast submarket. The property offers amenities including a resort-style pool, an outdoor chef-inspired kitchen with a pizza oven, a fitness center, and a clubhouse featuring a game room and collaborative workspaces.
The community is positioned adjacent to the First Creek bike and walking path and provides access to Denver International Airport, as well as nearby grocery stores, dining, and retail. Colliers described the location as offering "a unique blend of suburban tranquility and walkable access to open space, parks, and nearby amenities."
"Momentum at First Creek is a high-quality, well-constructed asset strategically positioned in a growing area of Denver, offering excellent connectivity, walkability, and access to the expanding employment base near DIA," said Craig Stack, Senior Vice President at Colliers' Denver office. "While market fundamentals in Denver remain challenging, we saw strong interest from the investment community, driven by confidence in the property's long-term value, quality, and location."
Brokerage and Financing Details
Senior Vice Presidents Craig Stack, Bill Morkes, and Nate Moyer of Colliers' Denver office represented the seller in the transaction. Colliers Debt and Structured Finance, led by Senior Vice President Luke Donahue, arranged the financing on behalf of the buyer.
According to Colliers, the financing team rate-locked the loan within three weeks of application and closed within four weeks of application.
"Colliers Debt and Structured Finance is continuing to push to provide institutional clients with best-in-class terms and executions. Competing with speed and economics is essential to a successful outcome when participating in a difficult market environment. It's a testament to the capabilities of the platform and team to have closed this deal with the micro and macro market volatility that was present during the execution," said Luke Donahue.
About the Colliers Denver Multifamily Advisory Group
Colliers' Denver Multifamily Advisory Group specializes in the disposition of multifamily assets across Colorado and surrounding states, including market-rate, affordable, senior, student, and mixed-use properties, as well as land suitable for multifamily development. Craig Stack has transacted over $1 billion in apartment sales during his career, spanning institutional, private capital, and affordable segments. Nate Moyer has been directly involved in more than $1.35 billion in transaction volume since 2019, encompassing over 6,000 units sold and $500 million in multifamily debt originations. Luke Donahue has funded more than $2 billion of capital during his career across commercial property types including multifamily, retail, office, and industrial assets.