Four Peaks Makes Market Rate Investment Outside Denver
The deal is the latest in a string of dispositions for the seller.
Four Peaks Multifamily Partners has acquired Harvest Station, a 119-unit garden-style community in Broomfield, Colo. According to the Denver Business Journal, the property traded for a reported $85 million. The seller was Hamilton Zanze, a San Francisco-based multifamily real estate investment firm. The previous owner acquired the asset for $67.2 million in 2016, according to Yardi Matrix data.
Walker & Dunlop brokers David Potarf, Dan Woodward, Matt Barnett and Jake Young facilitated the transaction.
Located at 11775 Wadsworth Boulevard, the 2014-built community offers one-, two- and three-bedroom apartments as large as 1,498 square feet. Unit interiors include nine-foot ceilings, granite countertops, wood-style plank flooring, pendant lighting, in-home washers and dryers, walk-in closets, programmable thermostats and private balconies or patios. Some units feature built-in bookshelves. Harvest Station is roughly 17 miles northwest of downtown Denver and 14 miles to the southeast of Boulder.
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Common-area amenities at Harvest Station include a resort-style swimming pool and spa, grilling stations, an outdoor fireplace and TV lounge, in addition to a resident clubhouse with gaming lounge and business center. The community also has an onsite dog park and dog wash, in addition to a 24-hour fitness center with a yoga room. Residents also have access to digital package lockers, a bike, snowboard and ski repair station as well as attached and detached garages. The property also features controlled-access gates and EV-charging stations.
Hamilton Zanze has been actively selling assets recentlyl te sale represents the company’s fifth disposition this year. Four Peaks has amassed a portfolio through $1 billion in acquisitions since its founding in 2016.
Where demand outpaces supply
The Denver multifamily market ended the second quarter of this year with an occupancy rate of 94.5 percent, which was 30 basis points higher than the previous quarter, according to data from CBRE. Occupancy has increased 70 basis points increase year-over-year. Yardi Matrix shows that rents in the metro saw a 0.1 percent decrease on a trailing three-month basis through April, averaging out at $1,867.
At the same time, supply growth has slowed down while demand remains relatively robust. Some 3,150 units were absorbed in in Q2, up quarter-over-quarter from the 2,254 units, notes the same source. Absorption outpaced completions in three of the past four quarters, signaling robust demand during a period of peak new supply.
Developers completed a smaller number of units for a second straight quarter in Q2 2025. Year-over-year, completions were down 55.2 percent to 2,134 units in Q2 2025. Rents eked out a gain of 0.7 percent compared with the first quarter, but were still down 4.8 percent since the start of the year.
