5 Mockingbird Lane in Cherry Hills Village includes a 15,500-square-foot mansion with seven bedrooms and 10 baths and a guest house on a 2-acre corner lot. (Courtesy Greg Muntz with Muntz Studios)
Dealin’ Doug Moreland closed on a deal to sell a Cherry Hills Village mansion for more than a million under its March list price.
Moreland, best known for owning car dealerships, sold 5 Mockingbird Lane for $6.4 million on Sept. 10 to La Rocca Revocable Trust.
He listed the 15,500-square-foot mansion for $7.7 million on March 27 and lowered the price to $7.5 million in May. The seven-bedroom, 10-bath home went under contract on June 13.
Moreland assumed ownership of the home when former Denver Broncos backup quarterback Preston Parsons failed to repay a loan that Moreland gave him.
Parsons purchased the 15,500-square-foot mansion in 2017 for $5.1 million. He then borrowed $4.3 million from InBank in 2019 and filed for bankruptcy on the property in August 2022 to stop a foreclosure sale using Press On Holdings LLC.
Doug Moreland
At the time, Parsons owed InBank $5.4 million. The bankruptcy filing valued the mansion, which sits on 2 acres and includes a detached two-story guest house, at $9.5 million.
Moreland offered to help, and a month later, he and Parsons agreed to consolidate the InBank home loan with a $325,000 promissory note held by Moreland for an aggregate initial principal amount of $6.3 million.
Moreland previously invested in Assure Neuromonitoring, a company Parsons founded that observes surgeries to ensure patients’ brains and spines are uninjured.
The court dismissed the bankruptcy filing in October 2022. In January 2024, Parsons listed the mansion for $9.5 million.
In a previous interview, Moreland said Parsons’ efforts to sell the mansion were unsuccessful, and ultimately, Moreland had to assume the property.
Moreland, who lives in Cherry Hills Village about six blocks from the mansion, said if he and his wife didn’t love their home, they’d consider moving into 5 Mockingbird Lane.
Instead, he hired Delroy Gill with LIV Sotheby’s International Realty and priced the mansion competitively.
Moreland said the mansion, built in 2002, has great bones, but a new owner might want to make some updates.
It includes a gourmet kitchen with two granite islands and a primary suite with a private balcony. The basement has a gym, wine cellar, and media room. The exterior features a pool, outdoor kitchen, fireplaces, and a guest house that could serve as a mother-in-law suite or an au pair suite.
“It ultimately comes down to a buyer’s tastes,” Moreland said last spring. “It only takes one buyer, and since I like it, there’s got to be someone else out there who’d like to live in it.”
Gill, who represented both Moreland and the buyer, said the high-quality home would be difficult to replicate for the list price, citing the mansion’s limestone columns, stone facade, and millwork.
5 Mockingbird Lane in Cherry Hills Village includes a 15,500-square-foot mansion with seven bedrooms and 10 baths and a guest house on a 2-acre corner lot. (Courtesy Greg Muntz with Muntz Studios)
Dealin’ Doug Moreland closed on a deal to sell a Cherry Hills Village mansion for more than a million under its March list price.
Moreland, best known for owning car dealerships, sold 5 Mockingbird Lane for $6.4 million on Sept. 10 to La Rocca Revocable Trust.
He listed the 15,500-square-foot mansion for $7.7 million on March 27 and lowered the price to $7.5 million in May. The seven-bedroom, 10-bath home went under contract on June 13.
Moreland assumed ownership of the home when former Denver Broncos backup quarterback Preston Parsons failed to repay a loan that Moreland gave him.
Parsons purchased the 15,500-square-foot mansion in 2017 for $5.1 million. He then borrowed $4.3 million from InBank in 2019 and filed for bankruptcy on the property in August 2022 to stop a foreclosure sale using Press On Holdings LLC.
Doug Moreland
At the time, Parsons owed InBank $5.4 million. The bankruptcy filing valued the mansion, which sits on 2 acres and includes a detached two-story guest house, at $9.5 million.
Moreland offered to help, and a month later, he and Parsons agreed to consolidate the InBank home loan with a $325,000 promissory note held by Moreland for an aggregate initial principal amount of $6.3 million.
Moreland previously invested in Assure Neuromonitoring, a company Parsons founded that observes surgeries to ensure patients’ brains and spines are uninjured.
The court dismissed the bankruptcy filing in October 2022. In January 2024, Parsons listed the mansion for $9.5 million.
In a previous interview, Moreland said Parsons’ efforts to sell the mansion were unsuccessful, and ultimately, Moreland had to assume the property.
Moreland, who lives in Cherry Hills Village about six blocks from the mansion, said if he and his wife didn’t love their home, they’d consider moving into 5 Mockingbird Lane.
Instead, he hired Delroy Gill with LIV Sotheby’s International Realty and priced the mansion competitively.
Moreland said the mansion, built in 2002, has great bones, but a new owner might want to make some updates.
It includes a gourmet kitchen with two granite islands and a primary suite with a private balcony. The basement has a gym, wine cellar, and media room. The exterior features a pool, outdoor kitchen, fireplaces, and a guest house that could serve as a mother-in-law suite or an au pair suite.
“It ultimately comes down to a buyer’s tastes,” Moreland said last spring. “It only takes one buyer, and since I like it, there’s got to be someone else out there who’d like to live in it.”
Gill, who represented both Moreland and the buyer, said the high-quality home would be difficult to replicate for the list price, citing the mansion’s limestone columns, stone facade, and millwork.
