RedPeak Purchases Denver Apartment Building
The firm acquired The Manchester for $23 million, marking a new investment near Cheesman Park.
Updated on Oct. 21, 2026 in Commercial
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RedPeak has finalized the purchase of The Manchester, a 100-unit apartment building, for $23 million. The Denver-based firm plans to renovate the property, which was constructed in 1973 and sits near the Denver Botanic Gardens.
Why it matters
The acquisition positions RedPeak to upgrade a prime property in a highly desirable neighborhood. By renovating the building, the firm aims to increase the asset's value in a market currently experiencing shifts in multifamily property prices.
The Manchester transaction reflects a price of $230,000 per unit for the 100-unit complex. This purchase arrives alongside CBRE reporting $386 million in total Denver apartment sales during the second quarter of 2026.
The players
RedPeak
RedPeak is a real estate investment firm that currently owns 53 buildings and 3,300 apartments across the Denver metro area.
The Manchester
The Manchester is a 100-unit apartment complex located in Denver near Cheesman Park and the Denver Botanic Gardens.
CBRE
CBRE is a commercial real estate services and investment firm that tracks regional property sales data.
The details
RedPeak bought the building from an original investor group that held the property since the 1970s. The site features an indoor pool, a gym, and a community room, which the buyer intends to modernize during their planned renovations.
Timeline
The Manchester was constructed in 1973.
Denver apartment sales totaled $386 million in Q2 2026.
RedPeak completed the purchase in mid-October 2026.
Culture Shift
This move represents a broader trend of institutional investors targeting aging residential assets to reposition them for modern market demands. The acquisition reflects a strategic effort to capitalize on a period where national multifamily values have declined by 20% to 30%.
Tenants at The Manchester should anticipate future construction activity as the new ownership begins property renovations. This investment may influence long-term rental rates and building amenities in the area near Cheesman Park.
The takeaway
Real estate investors are increasingly looking for opportunities to add value to older complexes through capital improvements. Renovating legacy properties allows firms to modernize living spaces while potentially improving returns in a softening market.
Further reading
For more information on the regional market, read the Denver Commercial section.
Source note: This article includes information reported by The Denver Post.
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