Steele Creek

JLL has been retained as the exclusive investment advisor in the sale of Steele Creek, a generational, 218-unit top-of-market luxury apartment community located in Denver’s most affluent and desirable neighborhood, Cherry Creek. This offering presents a rare opportunity to acquire the definitive benchmark for ultra-luxury living in the metro area, an irreplaceable asset distinguished by its superior physical product, exclusive amenities, 16,000+ SF of curated on-site retail, and a premier location driving sustained rental demand. Originally delivered in 2015, the acquisition of Steele Creek presents a unique core-plus opportunity to continue current unit interior upgrades supported by robust submarket dynamics and future supply targeting rents over $1.50/PSF higher than current rent levels at Steele Creek. Current unit interior upgrades feature new appliances, flooring, lighting, fixtures, and paint.

Steele Creek sets an unparalleled standard for luxury, featuring market-leading community amenities including a 24-hour concierge, a resort-style rooftop pool with cabanas, state-of-the-art fitness center, and on-site upscale retail. The residences are exquisitely appointed with high-end finishes such as caesarstone quartz countertops, sleek european-style cabinetry, and floor-to-ceiling windows offering sweeping downtown and mountain views. Situated at the core of Cherry Creek, the property offers residents unmatched walkability to over 200 high-end retailers and is proximate to the transformative, multi-billion dollar Cherry Creek West and Cherry Lane redevelopments, further enhancing the area’s live-work-play dynamic. Residents benefit from 16,376 SF of thoughtfully curated on-site retail anchored by the award winning Matsuhisa restaurant, created by Chef Nobu and featuring select domestic locations in Aspen, Vail, and Beverly Hills with seven additional locations abroad.

The investment is underpinned by powerful submarket fundamentals that insulate it from broader market headwinds. Cherry Creek’s commercial real estate market consistently outperforms, acting as a crucial “flight-to-quality” destination with exceptionally low office vacancy. This economic vitality creates a concentrated pool of high-earning professionals — within a one-mile radius, average household incomes exceed $230,000 and average home values are in excess of $1.3M — driving sustained demand for luxury residences. While downtown Denver faces intense competition from new inventory, Cherry Creek remains a supply-constrained enclave with more than 20 times less new supply, allowing Steele Creek ample rental pricing power. This combination of a trophy-quality asset, a significant discount to replacement cost, and an irreplaceable location makes Steele Creek one of the most compelling long-term investment opportunities in Denver.