Standing outside the Uptown office building her firm has been renovating, Fiona Arnold notes the white paint, and the gold rings that are being installed across the exterior. “I think the whole thing is going to look like a jewelry box up here on the hill,” she said. The Denver-based development firm Arnold founder, Mainspring,… Read more »
The 318,000-square-foot complex is owned by Denver’s Sagard Real Estate, which bought it in July 2014.
“It’s not dissimilar, on a much smaller and limited scale, to Union Station,” an EXDO Development executive said.
Expansive still owns two other area properties whose loans are in default.
In the wake of high-profile industry settlements over agent commissions, DMAR and SMDRA believe it’s the “right time” to sell.
The station sold its property at Speer and Lincoln to a developer in 2021.
The owner of 700 17th St. took out a $21 million loan in 2016 that matures in 2026.
He moved from California to Denver in 1989, then cashed out and returned within a decade. “Trees don’t grow to the sky,” he told the WSJ.
City officials are unable to provide a timeline for occupancy of the furnished hotel.
Move over, Wells Fargo Center. The region’s largest distressed office property is in Lakewood.
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