The office building at 101 University Blvd. sold for $26 million in 2019. (BusinessDen file)
KeyBank will shutter its wealth management office in Cherry Creek by the end of the year.
The national banking chain said it is closing the Key Private Bank location at 101 University Blvd. and consolidating that office with its downtown regional headquarters at 1675 Broadway.
A spokeswoman declined to explain the move, saying only that it’s a “business decision.”
KeyBank told federal regulators on Nov. 8 that it is ending its charter at 101 University. As a result, it no longer can accept deposits from customers, a spokeswoman said.
KeyBank is the fifth-largest banking chain in Denver when ranked by branches or deposits. It has 44 locations in the metro area, including a branch at 3410 E. 1st Ave. in Cherry Creek that “will remain open and operational,” KeyBank spokeswoman Laura Suter said.
The four-story, 54,000-square-foot office building at 101 University Blvd. has been owned by MDC Realty Advisors since that firm bought it for $26 million in 2019. MDC did not respond to requests to discuss the KeyBank space.
The office building at 101 University Blvd. sold for $26 million in 2019. (BusinessDen file)
KeyBank will shutter its wealth management office in Cherry Creek by the end of the year.
The national banking chain said it is closing the Key Private Bank location at 101 University Blvd. and consolidating that office with its downtown regional headquarters at 1675 Broadway.
A spokeswoman declined to explain the move, saying only that it’s a “business decision.”
KeyBank told federal regulators on Nov. 8 that it is ending its charter at 101 University. As a result, it no longer can accept deposits from customers, a spokeswoman said.
KeyBank is the fifth-largest banking chain in Denver when ranked by branches or deposits. It has 44 locations in the metro area, including a branch at 3410 E. 1st Ave. in Cherry Creek that “will remain open and operational,” KeyBank spokeswoman Laura Suter said.
The four-story, 54,000-square-foot office building at 101 University Blvd. has been owned by MDC Realty Advisors since that firm bought it for $26 million in 2019. MDC did not respond to requests to discuss the KeyBank space.
