Trinity Place is located at 1801 Broadway. (Thomas Gounley/BusinessDen)
Expansive, a national coworking company that has suffered through years of losses here, has now been ordered by a Denver judge to pay $440,000 to a general contractor.
District Court Judge Sarah Wallace ruled July 11 that Expansive must pay Renu Renovation Services after ignoring Renu’s lawsuit for eight months. It’s the latest in a list of setbacks for the Chicago-based coworking company, which admits to having a hard time in Denver.
Renu sued Expansive in October, claiming it had done about $400,000 of renovation work at 1801 Broadway before quitting the project because it wasn’t being paid. The renovations followed an incident on New Year’s Eve 2021 in which a broken coil in the building’s penthouse sent water falling down 13 floors, damaging several suites and common areas.
By the time that Renu sued, the office building had been under the management of a court-appointed caretaker for two months at the request of the lender Loancore, which is suing Expansive for $35 million in loan repayments. A trial in that case has not been scheduled.
The building’s receiver, Steve Schwab of Cushman & Wakefield, asked that Renu’s lawsuit be dismissed because it was filed after a statute of limitations had passed. Wallace disagreed and, after determining that Schwab could not answer for Expansive, ruled that Expansive had not answered Renu’s lawsuit. She ordered it to pay a default judgment of $443,673.
The Trinity Place building at 1801 Broadway is 23 stories. (Thomas Gounley/BusinessDen)
Expansive’s spokespeople did not return requests for comment on the judge’s decision.
Renu was represented by attorneys David Frommell and Katherine Condit with Beltzer Bangert Gunnell in Greenwood Village, who also did not respond to a request for comment.
Expansive, which unlike most coworking companies owns buildings, also has 1495 Canyon Blvd. in Boulder and 8400 E. Crescent Parkway in Greenwood Village in addition to the building that Renu worked on: Trinity Place at 1801 Broadway. It owned 1630 Welton St. in Denver until July 1, when it agreed to let a lender have it rather than go through foreclosure.
“We have a number of assets that are doing well, and we have a number of assets that are challenged,” Chris Klare, the chief financial officer at Expansive, told BusinessDen this month. “Unfortunately, our Denver assets are generally challenged.”
Expansive’s 1495 Canyon Blvd. location has been operated by a receiver since June at the request of Bellco Credit Union, which is suing for $8.5 million in loan repayments.
Trinity Place is located at 1801 Broadway. (Thomas Gounley/BusinessDen)
Expansive, a national coworking company that has suffered through years of losses here, has now been ordered by a Denver judge to pay $440,000 to a general contractor.
District Court Judge Sarah Wallace ruled July 11 that Expansive must pay Renu Renovation Services after ignoring Renu’s lawsuit for eight months. It’s the latest in a list of setbacks for the Chicago-based coworking company, which admits to having a hard time in Denver.
Renu sued Expansive in October, claiming it had done about $400,000 of renovation work at 1801 Broadway before quitting the project because it wasn’t being paid. The renovations followed an incident on New Year’s Eve 2021 in which a broken coil in the building’s penthouse sent water falling down 13 floors, damaging several suites and common areas.
By the time that Renu sued, the office building had been under the management of a court-appointed caretaker for two months at the request of the lender Loancore, which is suing Expansive for $35 million in loan repayments. A trial in that case has not been scheduled.
The building’s receiver, Steve Schwab of Cushman & Wakefield, asked that Renu’s lawsuit be dismissed because it was filed after a statute of limitations had passed. Wallace disagreed and, after determining that Schwab could not answer for Expansive, ruled that Expansive had not answered Renu’s lawsuit. She ordered it to pay a default judgment of $443,673.
The Trinity Place building at 1801 Broadway is 23 stories. (Thomas Gounley/BusinessDen)
Expansive’s spokespeople did not return requests for comment on the judge’s decision.
Renu was represented by attorneys David Frommell and Katherine Condit with Beltzer Bangert Gunnell in Greenwood Village, who also did not respond to a request for comment.
Expansive, which unlike most coworking companies owns buildings, also has 1495 Canyon Blvd. in Boulder and 8400 E. Crescent Parkway in Greenwood Village in addition to the building that Renu worked on: Trinity Place at 1801 Broadway. It owned 1630 Welton St. in Denver until July 1, when it agreed to let a lender have it rather than go through foreclosure.
“We have a number of assets that are doing well, and we have a number of assets that are challenged,” Chris Klare, the chief financial officer at Expansive, told BusinessDen this month. “Unfortunately, our Denver assets are generally challenged.”
Expansive’s 1495 Canyon Blvd. location has been operated by a receiver since June at the request of Bellco Credit Union, which is suing for $8.5 million in loan repayments.
