Raleigh at Sloan’s Lake, a 249-unit multifamily community in Denver, has been sold to Florida-based Seminole Real Estate Fund for $125.6 million.
CBRE represented the seller, Hines, in the transaction, which closed at more than $500,000 per unit, setting a record for multifamily pricing in Denver this year. The average price-per-unit in Denver in the third quarter of 2025 fell quarter-over-quarter to $278,000, according to CBRE Research.
“The sale of Raleigh at Sloan’s Lake reflects the strength and appeal of Denver’s multifamily market,” said Chris Crawford, senior managing director at Hines in Denver.
“Its exceptional lakefront location and top-tier design have driven strong resident demand and enabled it to outperform competitors, underscoring the depth of appetite for thoughtfully executed projects in this market.”
The Raleigh at Sloan’s Lake marks the fund’s second acquisition in Denver, following its 2021 purchase of the Alton Jefferson Park apartments at 2920 W. 29th Ave. for $56 million, according to city property records.
Completed in 2020, Raleigh at Sloan’s Lake is adjacent to Sloan’s Lake Park, at 1650 N. Raleigh St., and features studio, one- and two-bedroom residences averaging 994 square feet.
Each home is designed with stainless steel appliances, gas ranges, floor-to-ceiling windows and large walk-in closets.
The property also offers several amenities, including a rooftop patio and lounge, resort-style pool, fitness center, co-working spaces, pet spa and approximately 4,192 square feet of ground-floor retail, fully leased to Livewell Animal Hospital.
“In urban Denver, asset quality and micro-locations have become crucial as peak supply in the first quarter continues to be absorbed,” said CBRE Vice Chairman Terrance Hunt.
“The Raleigh at Sloan’s Lake has maintained both strong occupancy and rent growth over the past year. Hines delivered a high-quality asset that has outperformed the market, and the buyer recognized the opportunity to acquire a property that has been stress-tested, demonstrating it will have long-term viability and outsized growth as the market recovers in the next year.”
The community has access to 177 acres of trails, water activities and recreation.
Get more business news by signing up for our On The Block newsletter.