A view of downtown Denver from above the Capitol building. (Courtesy of Guerilla Capturing)
Editor’s note: This story is updated as new information becomes available. Last updated March 20, 2025.
The pandemic brought major changes to how companies use office space — and that has put many landlords in a difficult position.
Interest rates have made refinancing loans difficult. Downsizing and sublease trends have impacted building valuations. All the while, if they haven’t matured already, loans secured by office towers are still inching closer to that date.
BusinessDen scoured county foreclosure records, third-party reports and court filings to determine the downtown and suburban buildings that have exhibited signs of distress — which can take a number of different forms — since the pandemic began.
The below list is not necessarily comprehensive, but will be updated when we have more information, or when a particular property’s situation changes.
Foreclosed/deed-in-lieu of foreclosure in Denver area
Denver Energy Center
Address: 1625 and 1675 Broadway, Denver
Year Built: 1979
Square footage: 785,000
Situation: Foreclosed on by lender
Los Angeles-based Gemini Rosemont bought the complex for $176 million in 2013 with the help of a $114 million loan from JPMorgan Chase. Gemini missed months of payments, leading Chase to initiate the foreclosure process in late 2021.
Chase took ownership of the building with a $88.2 million credit bid at a June 2022 foreclosure auction.
Triad Office Complex
Address: 5660-5680 Greenwood Plaza Blvd., Greenwood Village
Year Built: 1972
Square Footage: 414,000
Situation: Foreclosed on by lender
Denver-based Focus Property Group paid $54 million in February 2020 for Triad, financing the deal with a $53.7 million loan from Voya.
In April 2023, Voya sued, saying Focus had defaulted on the loan in multiple ways. A receiver was appointed. Foreclosure proceedings were initiated in July 2023. Voya took ownership with a $46.4 million credit bid at a December 2023 foreclosure auction.
7100 E. Belleview
Address: 7100 E. Belleview Ave., Greenwood Village
Year Built: 1981
Square Footage: 179,000
Situation: Deed-in-lieu of foreclosure
Westport Capital Partners paid $19.9 million for the property in December 2015. It took out a $21.08 million loan from an affiliate of Voya Financial in December 2019.
Voya sued in July 2023, saying the owner had defaulted on the loan by terminating the building’s management agreement without Voya’s consent. A receiver was appointed. In September 2023, Westport transferred the property to the lender.
1630 Welton St.
Address: 1630 Welton St., Denver
Square footage: 115,000
Situation: Deed-in-lieu of foreclosure
Expansive, a Chicago-based coworking firm, bought the downtown building in 2017. In September 2022, it refinanced with a $12.3 million loan from RRA Capital. In early July 2023, Expansive executed a deed-in-lieu-of-foreclosure, giving the building to the lender.
Cascades
Address: 6300 S. Syracuse Way, Centennial
Year built: 1984
Square footage: 350,000
Situation: Foreclosed on by lender
Florida-based America’s Capital Partners paid $63 million in February 2017 and took out two loans totaling $44 million from an affiliate of Voya Financial. The lender executed a call option and the owner failed to pay off the loans by March 1, 2024. A receiver was appointed.
In mid-April 2024, Voya initiated foreclosure proceedings. In September 2024, Voya took ownership with a credit bid of $29.35 million at a foreclosure auction.
Civic Center Plaza
Address: 1560 Broadway, Denver
Year built: 1982
Square footage: 600,000
Situation: Deed-in-lieu of foreclosure
Rising Realty bought the tower for just under $125 million in June 2019, financing the deal with a $101 million loan from Heitman Capital Management. Rising Realty gave the tower to Heitman in November 2024.
Cherry Creek Plaza I and II
Address: 600 and 650 S. Cherry St., Glendale
Square footage: 335,000
Situation: Foreclosed on by lender
Florida-based TerraCap Management bought the towers in March 2020 for $54.6 million with the help of a $45.6 million loan from NXT Capital. The lender initiated the foreclosure process in June 2024. The lender took ownership with a $29 million credit bit in a foreclosure auction in October 2024.
Rev360
Address: 3600 Brighton Blvd., Denver
Year built: 2020
Square footage: 170,000
Situation: Deed-in-lieu of foreclosure
San Francisco-based Shorenstein bought Rev360 in November 2021 for $72 million. The firm took out a $67.7 million loan from Blackstone in January 2022. Shorenstein gave the property to Blackstone in December 2024. The building has never been occupied.
Hub North
Address: 3660 Blake St., Denver
Year built: 2020
Square footage: 111,000
Situation: Deed-in-lieu of foreclosure
Farallon Capital and Eagle Point Capital Partners bought the building for $40.5 million in September 2021. The firms financed the buy with a $37.3 million loan from an affiliate of Ares Commercial Real Estate.
1660 Lincoln
Address: 1660 Lincoln St., Denver
Year built: 1972
Square footage: 300,000
Situation: Deed-in-lieu of foreclosure
Westport Capital Partners purchased the tower in 2018 for $67.2 million. In 2021, the firm secured a four-year, $54 million bridge loan, with a one-year extension option, through Benefit Street Partners. Westport transferred ownership to Benefit Street in February 2025.
2399 Blake
Address: 2399 Blake St., Denver
Square footage: 71,000
Situation: Deed-in-lieu of foreclosure
Seattle-based Urban Renaissance Group bought the property in 2018 for $33 million and took out a $24 loan from Equitrust Life Insurance Co. in May 2019. UGB transferred ownership to the lender in January 2025.
Trinity Place
Address: 1801 Broadway, Denver
Year built: 1981
Square footage: 198,000
Situation: Foreclosed on by lender
Chicago-based Expansive, at the time known as Novel Coworking, paid $40.2 million for the 17-story office building in April 2019, financing the deal with a $35.4 million loan from Loancore Capital. The loan matured in April 2023.
The lender initiated the foreclosure process in January 2024 and took ownership with a $34.6 million credit bid in a foreclosure auction in November 2024.
Market Center
Address: 1624-1660 Market St., Denver
Square footage: 121,000
Situation: In foreclosure
Seattle-based Urban Renaissance Group purchased Market Center in September 2015, paying $29.7 million. In June 2022, the company took out a $27 million loan against the property from Oconee Real Estate Holdings, an affiliate of New York-based Voya Financial.
URG defaulted on the loan when it failed to make an October 2024 payment on time, according to its lender. The lender initiated foreclosure in November 2024 and foreclosed with a $18.26 million credit bid in March 2025.
New non-lender ownership after default
Industry Denver
Address: 3001 Brighton Blvd., Denver
Year Built: Mid-2010s
Square Footage: 150,000
Situation: Sold out of receivership
Clarion Partners and Q Factor, operating as 3001 Brighton LLC defaulted on two AIG loans issued in 2016 by failing to pay them off by maturity in November 2023. A receiver was appointed in December 2023. In August 2024, the property sold for $19 million to Boulder-based Conscience Bay Co.
The 410
Address: 410 17th St., Denver
Year Built: 1977
Square Footage: 435,000
Situation: Deed-in-lieu of foreclosure after loan sale
A joint venture between Rialto Capital Management and Steelwave paid $127.25 million for the downtown tower in June 2019, financing the deal with a $113.05 million loan. The building’s lender, an affiliate of Ares Commercial Real Estate, initiated foreclosure proceedings in July 2023.
In February 2024, Cress Capital purchased the building’s loan. In April 2024, Cress took ownership via a deed in lieu of foreclosure.
Solarium
Address: 7400 E. Orchard Road, Greenwood Village
Year built: 1982
Square footage: 170,000
Situation: Foreclosed on by lender
Austin-based CapRidge Partners paid $23.4 million for the property in November 2014. In December 2020, the firm took out a $20.39 million loan from KeyBank that was later assigned to New York-based Ready Capital.
CapRidge failed to pay off the loan upon maturity in December 2023. In March 2024, the lender filed to foreclose on the property. In late August, the lender sold the loan to LBC3 Trust. In October 2024, the trust took ownership with a $11.2 million credit bid at a foreclosure auction.
In foreclosure in Denver area
700 17th St.
Address: 700 17th St., Denver
Square footage: 182,500 square feet
Year built: 1960
Status: In foreclosure
Denver-based Toma West’s 700 17th Street LLC paid $32 million for the property in June 2016, although Toma West had also been affiliated with the previous LLC that bought it in 2006. The $21 million, 10-year loan that financed the 2016 deal came from New York-based Benefit Street Partners.
Toma West defaulted on the loan by early 2024 by falling behind on payments. The lender initiated the foreclosure process in August 2024.
Harlequin Plaza
Address: 7600 E. Orchard Road, Greenwood Village
Year built: 1980
Square footage: 330,000 square feet
Situation: In foreclosure
Seattle-based Unico Properties owner bought the two-building complex in October 2012 for $26.55 million. In May 2014, Unico took out a $28 million loan from Wells Fargo Bank. The company failed to pay it off upon maturity in 2024.
The property entered foreclosure in October 2024.
Orchard Falls
Address: 7800 E. Orchard Road, Greenwood Village
Square footage: 146,000
Situation: In foreclosure
Denver-based Toma West bought Orchard Falls in April 2014 for $25.8 million, financing the deal with a $19 million loan from New York-based Ladder Capital. The lender initiated the foreclosure process in October 2024.
Defaulted, not in foreclosure, in Denver Area
1670 Broadway
Address: 1670 Broadway, Denver
Year Built: 1980
Square footage: 700,000
Situation: In special servicing
Owner HFI 1670 Bdwy LLC paid $238 million for the tower in 2018, records show, financing the deal with a $78 million loan from the seller, UBS Realty. The owner failed to pay off that loan upon maturity in September 2023. The loan was transferred to special servicing shortly before the default, in August 2023.
Wells Fargo Center
Address: 1700 Lincoln St., Denver
Year Built: 1983
Square Footage: 1.2 million square feet
Situation: In receivership
New York-based Brookfield Properties failed to pay off the building’s loan in December 2022. The loan was then sent to special servicing. In August 2023, a receiver was appointed to oversee the tower.
Writer Square
Address: 1512 Larimer St., Denver
Year Built: 1980
Square Footage: 186,000
Situation: In special servicing
Owner Kroenke Sports & Entertainment paid $96 million for the property in late 2016. Trepp said in August 2023 comments that the property’s $59 million loan was transferred to special servicing “due to non-compliance with cash management.”
Columbine Place
Address: 216 16th St., Denver
Year Built: 1981
Square Footage: 150,000
Situation: In receivership
The downtown tower is owned by Columbine West 2 LLC. In November 2023, a receiver was appointed to oversee the property at the request of an affiliate of Rialto Capital, which has been assigned the building’s $15.5 million loan.
Meridian One
Address: 9785 Maroon Circle, Douglas County
Year built: 1984
Square footage: 140,000 square feet
Situation: In receivership
Portland, Oregon-based Felton Properties paid $12.8 million for the property in 2014. In December 2019, Societe Generale issued a $16.4 million loan secured by the property. The owner defaulted on the loan in multiple ways by August 2023, including by failing to make a July 2023 payment, according to a lawsuit filed by the lender’s trustee. A receiver was appointed in December 2023.
Gateway Plaza at Meridian
Address: 9800 S. Meridian Blvd., Douglas County
Year built: Mid-1990s
Square footage: 142,000
Situation: In receivership
Portland, Oregon-based Felton Properties bought the property for $21.55 million in December 2016, financing the deal with a $17.05 million loan from Barclays Bank. The owner failed to make payments starting in July 2023, according to a lawsuit filed by the lender’s trustee. A receiver was appointed in January 2024.
As of early 2025, Salt Lake City-based hospital chain Intermountain Health was under contract to buy the building.
1495 Canyon Blvd.
Address: 1495 Canyon Blvd., Boulder
Square footage: 22,500
Situation: In receivership
Expansive, a Chicago-based coworking firm, purchased the building in January 2018, paying $6.5 million. In October 2019, Expansive took out a $7.5 million loan from Bellco Credit Union. In a lawsuit filed in January 2024, Bellco said that Expansive defaulted on that loan in multiple ways. A receiver was appointed in June 2024.
Zeppelin Station
Address: 3501 Wazee St., Denver
Year built: 2018
Square footage: 102,000
Situation: In receivership
Denver-based Zeppelin Development completed construction of the building in 2018 and took out a $32 million loan from Wells Fargo Bank in 2019.
In March 2024, Wells Fargo requested a receiver, saying the loan had been in default since June 2021. A judge appointed one in May 2024 despite Zeppelin’s objections. In early 2025, Zeppelin clashed with the receiver over efforts to sell the property.
Denver West Business Park
Address: 82 acres bisected by Interstate 70 in Lakewood; numerous addresses
Square footage: 1.34 million
Owner: DPC Cos. and Bridge Investment Group
Status: In receivership
Denver-based DPC Cos. and Bridge Investment Group paid $144 million for the property in November 2018, financing the deal with a $120 million loan from KeyBank.
KeyBank sued the ownership group in June 2024, saying the loan matured in mid-November 2023 and hadn’t been paid off. A receiver was appointed.
Park Place
Address: 5690 DTC Blvd., Greenwood Village
Square footage: 180,000
Situation: In receivership
Denver-based Toma West bought Park Place in September 2014 for $30.5 million, financing the deal with a $21.3 million loan from Ladder Capital Finance. The loan matured in October 2024. A receiver was appointed in November 2024.
Offices at Broadway Station
Address: 900 and 990 S. Broadway, 100 E. Tennessee Ave., Denver
Year built: 1903/1984/2008
Square footage: 318,000
Situation: In special servicing
Sagard Real Estate bought the complex in July 2014 for $73.25 million, financing the deal with a $47.6 million loan from Wells Fargo Bank. In April 2024, the loan was transferred to special servicing due to an expected August 2024 maturity default
Aurora Corporate Plaza
Address: 12100-12250 E. Iliff Ave., Aurora
Square footage: 220,000
Situation: In receivership
San Francisco-based Graham Street Realty purchased the three-building complex in 2016 for $17.4 million, financing the deal with a $10 million loan from Guaranty Bank and Trust Co. The loan was later modified to add another $5 million. Graham Street failed to pay the loan off upon maturity in September 2024. A receiver was appointed in November 2024. As of March 2025, an auction on Ten-X was planned.
Globe4Hundred
Address: 400 W. 48th Ave.
Square footage: 95,000
Situation: In receivership
A group of Denver investors purchased the property in June 2021 for $11.2 million, financing the deal with a $9.75 million loan from Independent Bank. A receiver was appointed in March 2025.
Highland Place II
Address: 9110 E. Nichols Ave., Centennial
Square footage: 140,000
Situation: In receivership
Denver-based Centre Point Properties bought the property in July 2021 for $14 million, financing the deal with a $17 million loan from Mcreif Subreit LLC. Centre Point failed to pay the loan off upon maturity in July 2024. A receiver was appointed in November 2024.
700 Broadway
Address: 700 Broadway, Denver
Square footage: 425,000
Situation: In special servicing
Chicago-based Bradford Allen bought the property in 2016 for $81 million with the help of a $51 million loan. That loan was transferred to special servicing in October 2024 for “imminent monetary default,” according to Trepp. The building’s largest tenant gave up 70% of its space at the end of 2024.
No longer in default
Republic Plaza
Address: 370 17th St., Denver
Year Built: 1984
Square footage: 1.3 million
Situation: Emerged from special servicing
The 56-story tower is Denver’s tallest building. New York-based Brookfield Properties and Metlife Investment Management defaulted on its $243 million loan upon maturity in December 2022. In July 2023, the owner said it had reached a loan modification deal with the lender that included extending the terms of the loan through March 2026.
