Dinerstein Cos. buys Denver's Steele Creek apartments in Cherry Creek for $137.3M

UDR, the Denver-based apartment REIT, was the seller of the Cherry Creek luxury asset. Steele Creek was built as a high-amenity urban multifamily building targeting professional renters. The sale at $630,000 per unit represents a discount to peak pricing for the Cherry Creek submarket, consistent with elevated interest rates compressing multifamily valuations nationally since 2022. The Dinerstein Companies, based in Houston, has been an active acquirer of urban multifamily assets across major US markets.