The owner and operator of the Nativ Hotel in LoDo was sued last week for allegedly missing a $5.5 million payment that was due as part of a deal in 2018 financed by the former owner.
Hotelier Amin Suliaman and his company KDA Properties were sued last week in Denver District Court by the former owners of the Nativ Hotel, Hotel Denver, LLC, for missing a $5.5 million promissory note payment in May. And the old owners want their property at 1612 Wazee St. back, according to the lawsuit.
Suliaman bought the hotel for $6 million in April 2018, at the time telling BusinessDen that his company has been a partner in some hotel properties. “This is going to be our first brand that we are completely running on our own,” he said in 2018.
“This is definitely our first dive off the diving board,” he said. “But we know how to swim.”
Suliaman fell behind on obligations almost immediately after getting keys to the 14-room hotel, according to the lawsuit. In late April 2018, he failed to insure the property, then missed his first payment in July of that year and continued to miss payments into 2019, the lawsuit claims.
The lawsuit also claims that Suliaman personally guaranteed the loan.
The case was filed by Lyndsey O’Connell with the firm Beavers O’Connell. BusinessDen was unable to reach Suliaman.
Hotel Denver/Jet Entertainment had owned the building since January 2008, when it paid $5.36 million, according to property records.
Hotel rooms at The Nativ cost between $200 and $300 a night.