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A newly built luxury apartment community in Colorado has changed hands as investment activity in the state’s multifamily sector continues.
The Wolff Co. has acquired Notch66, a 336-unit multifamily property in Longmont, near Boulder, from developer Thompson Thrift. The acquisition was completed through a core-plus investment vehicle. The sale price was not disclosed.
The transaction marks the latest in a series of Colorado deals involving Thompson Thrift, underscoring continued investor appetite for stabilized, recently delivered assets in high-growth Front Range markets.
Watermark 2021 Development Fund III LP provided equity for Notch66, which reached completion in June 2024. Thompson Thrift previously secured a $67.5 million construction loan from Wells Fargo Bank in February 2022, according to Yardi Matrix data. At closing, the property was 93 percent leased to The Wolff Co.
CBRE Vice Chairmen Shane Ozment and Terrance Hunt, along with Senior Transaction Managers Chris Hart and Brad Schlafer, represented Thompson Thrift in the sale.
Located at 2514 Main St. near Ute Highway, Notch66 spans 18.4 acres and includes 10 three-story residential buildings. The community offers one-, two- and three-bedroom floorplans averaging 997 square feet, with an average rent of $2,067, according to Yardi Matrix.
Units are outfitted with quartz countertops, stainless steel appliances, hardwood-style flooring, full-size washers and dryers, walk-in closets and smart locks. Private balconies or patios are standard, while select apartments include private yards and detached garages.
Community amenities include a clubhouse with gathering spaces, Wi-Fi throughout common areas, a heated swimming pool, fitness center, barbecue area, bocce ball court, dog park and pet spa.
The property sits adjacent to a Walmart Supercenter and roughly 3 miles from downtown Longmont. It is approximately 19 miles from Boulder and about 40 miles north of Denver, placing residents within commuting distance of major employment hubs while offering suburban accessibility.
Longmont has drawn increasing attention from multifamily investors due to its proximity to Boulder and Denver, as well as continued population growth along Colorado’s Front Range. The city’s expanding employment base in technology, aerospace and advanced manufacturing has supported strong rental demand.
For The Wolff Co., the acquisition aligns with a core-plus strategy targeting newer assets in stable, high-performing markets. With the property already 93 percent leased, the buyer gains an income-producing community with limited near-term lease-up risk.
Thompson Thrift remains active across Colorado. Since its founding in 1986, the company has invested more than $7.1 billion in residential and commercial real estate nationwide and developed 22 communities within the state.
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In November, the firm began construction on two additional projects in the Colorado Springs area. The Maverick, a 300-unit garden-style community in Monument, Colo., is slated for completion in February 2027. That same week, Thompson Thrift launched Venture on Venetucci, a 336-unit development on 16.5 acres in Colorado Springs expected to deliver in March 2027.
Earlier last year, the company broke ground on Stack at Wheat Ridge, a 255-unit project in the Denver suburb of Wheat Ridge, scheduled for delivery this quarter.
The firm also sold Upland Flats, a 300-unit Colorado Springs community completed in 2023, in May 2025. NALS Apartment Homes acquired the property for $81.2 million, according to Yardi Matrix.
The sale of Notch66 further demonstrates sustained capital flows into Colorado’s multifamily market, particularly for recently completed, high-amenity communities positioned near employment centers and retail corridors.
Originally reported by Gail Kalinoski in Multi Housing News.
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