Grand Peaks has tapped Chris Manley as its new president and Kevin Foltz as its chief investment officer as the firm expands its multifamily investment platform, according to a July 28 press release shared with Multifamily Dive. Denver-based Grand Peaks specializes in apartment development, acquisition, repositioning and asset management.
With more than 35 years of real estate investment and operational leadership experience, Manley previously served as the chief operating officer of Denver-based hotel owner, operator and developer Stonebridge Companies, per the release.
Right now, the apartment industry is in an exciting period, Manley told Multifamily Dive in emailed comments. Although many markets have experienced distress, those conditions have also “created opportunities for companies like Grand Peaks that have a strong reputation, a solid balance sheet and a proven track record of creating value for partners.”
“Grand Peaks expects to remain very active in both new development and the acquisition of existing communities,” Manley said. “As our country continues to face a housing shortage, there will always be a need for talented operators who are committed to building exceptional communities while creating lasting value for their investors.”
Specifically, Grand Peaks has an investment in the Pacific Northwest scheduled to close in August, and the firm is planning to start two new developments in Colorado later this year, according to Manley.
Manley also founded 5 Senses Hospitality Management, which he grew to 14 hotels and more than 550 employees before it merged with Crestline Hotels & Resorts in January 2025, per the release. He also served as chief financial officer of Denver-based developer The Pauls Corp. for 15 years and was vice president at Prologis, a real estate logistics firm.
The hospitality and multifamily industries are very similar, Manley said, and Grand Peaks believes that every tenant should be treated like a guest.
“When we do this successfully, we’re able to build stronger communities and achieve positive results, including higher resident retention,” Manley said. “Our team members spend significant time on-site, supported by a highly engaged asset management team, and we constantly evaluate each property through the eyes of a resident, from the greeting they receive from the management team to the cleanliness of the pool and the condition of the landscaping.”
Foltz, meanwhile, has worked in real estate, development and investment management for more than 30 years, per the release. Prior to Grand Peaks, he served as president and chief development officer at Denver-headquartered Forum Investment Group, overseeing the firm’s operations, investment strategy execution and development initiatives.
Previously, Foltz was a development director with Continuum Partners, where he led entitlements, land acquisition and disposition, as well as “the ground-up development of numerous award-winning retail, hospitality, residential and commercial projects,” per the release.
In the wake of high levels of new apartment supply, markets with positive economic outlooks and supportive government policies are experiencing the fastest recoveries, Foltz told Multifamily Dive in emailed comments.
“We are monitoring absorption in many smaller and mid-sized markets where oversupply has slowed new development,” Foltz said. “We remain confident in the long-term fundamentals of housing markets supported by sustained population growth.”
Currently, Grand Peaks operates in eight markets and has roughly $3 billion in assets under management and $1 billion of equity invested, per the release. The firm teams up with institutional investors and family offices to pursue multifamily opportunities via underwriting, asset management and capital deployment.
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