The 3763 Wynkoop St. building is home to the bar RiNo Country Club, which has more than two years left on its lease. (Karoline Leonard/BusinessDen)
A RiNo bar property previously eyed for redevelopment is in foreclosure.
The one-story building at 3753-3763 Wynkoop St. is owned by Wynkoop Denver LLC., which took out a $1.48 million loan backed by it in May 2023. That loan was to be paid back in full by this June, a year later, according to loan documents.
The owner failed to pay off the loan. The lender, Owemanco Mortgage Holding Corp. out of Canada, initiated foreclosure proceedings on July 19, records show.
An individual named Lichen Xu signed the loan paperwork on behalf of Wynkoop Denver LLC. An attorney in Boston representing the owner did not respond to a request for comment.
Attorney David Laird of the Denver office Fennemore Craig is representing the lender in bankruptcy proceedings. He declined to comment.
The building is leased to RiNo Country Club, a bar and restaurant with a mini golf course outside. It’s operated by Denver-based HB Hospitality, formerly known as Handsome Boys Hospitality. The business has two-and-a-half years left on its current lease.
“We designed this business that fit an otherwise weird space, with a big parking lot and a small building,” said Brandon Jundt, a HB Hospitality executive.
Jundt and his father Joe briefly owned the 3763 Wynkoop St. building. In 2018, they bought it and on the same day resold it for $2.5 million to Navem Partners, a Boston-based firm. The site is near the Regional Transportation District’s 38th and Blake commuter rail station, and Navem planned to build apartments on the site. Joe Jundt was going to basically act as development manager, his son told BusinessDen.
But the project never broke ground. Navem executive Pat Dooling said this week that his firm no longer owns the property. Public records show the property was transferred from Navem’s DHN Wynkoop LLC to the current owner, Wynkoop Denver LLC, in January 2023. The records don’t list a sale price.
Brandon Jundt said that the property will eventually be redeveloped, given its location. But that’s unlikely to happen particularly soon given economic conditions, he noted — groundbreakings around the city have become less common.
Even if the property does sell — and foreclosure filings don’t always result in a sale — Jundt said he’s hopeful RiNo Country Club can continue operating there.
“Hopefully we keep leasing the space,” Jundt said.
Prior to RiNo Country Club, which opened in 2022, Rebel Restaurant operated at 3763 Wynkoop St. It closed in 2018.
The 3763 Wynkoop St. building is home to the bar RiNo Country Club, which has more than two years left on its lease. (Karoline Leonard/BusinessDen)
A RiNo bar property previously eyed for redevelopment is in foreclosure.
The one-story building at 3753-3763 Wynkoop St. is owned by Wynkoop Denver LLC., which took out a $1.48 million loan backed by it in May 2023. That loan was to be paid back in full by this June, a year later, according to loan documents.
The owner failed to pay off the loan. The lender, Owemanco Mortgage Holding Corp. out of Canada, initiated foreclosure proceedings on July 19, records show.
An individual named Lichen Xu signed the loan paperwork on behalf of Wynkoop Denver LLC. An attorney in Boston representing the owner did not respond to a request for comment.
Attorney David Laird of the Denver office Fennemore Craig is representing the lender in bankruptcy proceedings. He declined to comment.
The building is leased to RiNo Country Club, a bar and restaurant with a mini golf course outside. It’s operated by Denver-based HB Hospitality, formerly known as Handsome Boys Hospitality. The business has two-and-a-half years left on its current lease.
“We designed this business that fit an otherwise weird space, with a big parking lot and a small building,” said Brandon Jundt, a HB Hospitality executive.
Jundt and his father Joe briefly owned the 3763 Wynkoop St. building. In 2018, they bought it and on the same day resold it for $2.5 million to Navem Partners, a Boston-based firm. The site is near the Regional Transportation District’s 38th and Blake commuter rail station, and Navem planned to build apartments on the site. Joe Jundt was going to basically act as development manager, his son told BusinessDen.
But the project never broke ground. Navem executive Pat Dooling said this week that his firm no longer owns the property. Public records show the property was transferred from Navem’s DHN Wynkoop LLC to the current owner, Wynkoop Denver LLC, in January 2023. The records don’t list a sale price.
Brandon Jundt said that the property will eventually be redeveloped, given its location. But that’s unlikely to happen particularly soon given economic conditions, he noted — groundbreakings around the city have become less common.
Even if the property does sell — and foreclosure filings don’t always result in a sale — Jundt said he’s hopeful RiNo Country Club can continue operating there.
“Hopefully we keep leasing the space,” Jundt said.
Prior to RiNo Country Club, which opened in 2022, Rebel Restaurant operated at 3763 Wynkoop St. It closed in 2018.
