Denver acquisitions · Est. 2006
Principal capital for Class A multifamily in Denver’s finest submarkets.
Heir Development LLC is acquiring 200–350 unit Class A communities in Cherry Creek, Cherry Hills, the Denver Tech Center, and Douglas County — Justin Mullins as principal, with twenty years of acquiring and sixteen years of managing in Colorado behind the bid.
20 yrs
Acquiring
16 yrs
Managing
4 yrs
Nebraska
2 yrs
Kansas City
The thesis
We buy what we would hold.
Justin Mullins has been acquiring real estate in Colorado since 2006 and managing it since 2010 — twenty years of buying, sixteen of operations — plus four years in Nebraska and two in Kansas City. That is not a track record invented for a teaser. It is a documented history of closing, holding, and showing up when a book is real.
Heir Development LLC is now expanding the portfolio into Denver — Class A multifamily of 200–350 units in the submarkets that still have a barrier: Cherry Creek, the Cherry Hills–Greenwood Village corridor, the Denver Tech Center, and Douglas County. We are not touring Aurora, the airport, or last-cycle lease-ups in search of a story.
Denver’s 2024–2026 supply wave left metro vacancy elevated. That vacancy is not evenly distributed. South Douglas and Highlands Ranch–Lone Tree have remained among the tightest large submarkets in the metro; downtown and the eastern corridors have not. We underwrite that spread, not a recovery slide.
The firmWhere we buy
Four submarkets. No sightseeing.
City of Denver
Cherry Creek
Denver’s highest-barrier in-town submarket. Boutique and high-rise product serving households that will not trade location for a concession in Aurora.
Cherry Hills Village · Greenwood Village
Cherry Hills
The corridor between Cherry Hills Village and Greenwood Village. Quiet wealth, mature canopy, and almost no new multifamily land.
Southeast employment core
Denver Tech Center
The metro’s established employment core along I-25 and I-225, with light rail, hotel-quality amenities, and a renter that works nearby.
Highlands Ranch · Lone Tree · Castle Pines · Parker
Douglas County
The tightest large submarkets in the south metro. Schools, open space, and household formation that actually absorbs Class A product.
Acquisition box
Preferred product. An open inbox.
Class A in the four named submarkets is the core box. Class B and other Denver-metro product is still read. If it is not a hold for Heir, it may be a hold for someone Justin can introduce.
Full criteria- Buyer
- Heir Development LLC — Justin Mullins, principal. Deals may close as principal, in a joint venture, with a syndication, or alongside a key principal when that is what it takes to get the asset closed.
- Asset
- Class A / A− preferred. Class B in the named submarkets is reviewed — not dismissed.
- Units
- 200–350 doors is the core box. Smaller or larger is considered when the location and basis are right.
- Geography
- Focus: Cherry Creek; Cherry Hills–Greenwood Village; Denver Tech Center; Douglas County (Highlands Ranch, Lone Tree, Castle Pines, Parker). Other Denver-metro product is still worth a look.
- Vintage
- 2012 or newer preferred. Older product considered with a defined, limited capex plan.
- Occupancy
- Stabilized preferred. Selective lease-up in the named submarkets.
Process
From book to LOI. No NDA required.
01
Send the book
OM, trailing-12, rent roll, and a unit mix. No buyer NDA required. If you have a listing CA, we will sign it.
02
We read it
Justin reviews every complete offering — Class A in the core box first, Class B and adjacent product as well.
03
Capital
Proof of funds, a partner introduction, or a term sheet on request. Structure follows the deal: principal, JV, or syndication.
04
LOI
A clean letter of intent. Justin is the relationship. The closing entity may be Heir Development LLC or a partnership formed for the asset.
Confidential offerings
If it is close, send the book.
Exclusive listing brokers are protected. Proof of funds is available on request. Justin reads Class A in the core box first — and still looks at Class B and adjacent product.
Submit an offering