Press Releases
Marcus & Millichap Arranges Sale of The Jewell Apartments in Denver
July 15, 2026
DENVER, July 15, 2026 — Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of The Jewell, a 93-unit multifamily property.
“Unlike many value-add opportunities that require significant renovation capital, The Jewell offered a fully repositioned asset with the opportunity to create value through lease-up and operational execution,” said Jason Hornik, managing director investments. “While near-term market conditions remain challenging, investors continue to have strong conviction in Denver's long-term multifamily fundamentals, particularly for well-located communities where the heavy capital investment has already been made.”
Hornik and Greg Parker, investment specialists in Marcus & Millichap's Denver office, exclusively marketed the property on behalf of the seller, a New York-based investor, and procured the buyer, a California-based investor.
The property is located at 4470 E. Jewell Ave. Built in 1968, the apartment community totals 53,050 rentable square feet on 1.17 acres. Prior to the sale, the asset underwent an extensive renovation program that modernized unit interiors, common areas and community amenities. At the time of sale, the property was approximately 55% occupied, providing the buyer with a significant lease-up opportunity in one of Denver's most accessible infill locations. The new ownership plans to focus on stabilizing operations, increasing occupancy and enhancing long-term performance through active management.
“Unlike many value-add opportunities that require significant renovation capital, The Jewell offered a fully repositioned asset with the opportunity to create value through lease-up and operational execution,” said Jason Hornik, managing director investments. “While near-term market conditions remain challenging, investors continue to have strong conviction in Denver's long-term multifamily fundamentals, particularly for well-located communities where the heavy capital investment has already been made.”
Hornik and Greg Parker, investment specialists in Marcus & Millichap's Denver office, exclusively marketed the property on behalf of the seller, a New York-based investor, and procured the buyer, a California-based investor.
The property is located at 4470 E. Jewell Ave. Built in 1968, the apartment community totals 53,050 rentable square feet on 1.17 acres. Prior to the sale, the asset underwent an extensive renovation program that modernized unit interiors, common areas and community amenities. At the time of sale, the property was approximately 55% occupied, providing the buyer with a significant lease-up opportunity in one of Denver's most accessible infill locations. The new ownership plans to focus on stabilizing operations, increasing occupancy and enhancing long-term performance through active management.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
