Thomas Gounley

Denver

Editor and Reporter at BusinessDen

@Business_Den editor/reporter. Real estate, mostly. Ex-@springfieldNL, @UofNH. Found Jazz cup designer. Juggled Boston Marathon. Cycled across USA. 37/58 14ers

Articles

Distressed Centennial office hitting the auction block

3 days ago | businessden.com | Thomas Gounley

A local firmâ€™s Centennial office building is hitting the auction block after a loan default. The Highland Place II building at 9110 E. Nichols Ave. is scheduled for a two-day online auction starting June 23, according to auction website Ten-X. The starting bid is $1.25 million. The three-story building is 144,000 square feet and 62% leased, according to Ten-X.
Hospital chain buys distressed Douglas County office

4 days ago | businessden.com | Thomas Gounley

Hospital chain Intermountain Health has closed on its purchase of a distressed office building in Douglas County. The Salt Lake City-based health care system took ownership of the four-story Gateway Plaza at Meridian building at 9800 S. Meridian Blvd. on May 22, according to public records. BusinessDen broke the news in March that the sale was in the works. Intermountain paid $11.36 million, or about $80 a square foot, for the 142,000-square-foot building.
Broncos owners get OK from Denver to build taller wall along University

1 week ago | businessden.com | Thomas Gounley

No word yet on a stadium, but the owners of the Denver Broncos have received approval to build a taller wall along a residential property they own in the Polo Club neighborhood. Earlier this month, Denver’s obscure Board of Adjustment for Zoning unanimously voted that ownership of two lots along Polo Club Lane can build a 9-foot brick wall between them and University Boulevard. That’s double the four-foot height that would normally be allowed.
Colorado Mills mall loan exits default with two-year extension deal

1 week ago | businessden.com | Thomas Gounley

Lakewoodâ€™s Colorado Mills mall is back in good graces with its lender. Indianapolis-based Simon Property Group, a major mall owner, has struck a deal to modify the propertyâ€™s existing loan, paying $7.5 million toward the balance and extending the terms through November 2026. Thatâ€™s according to Morningstar Credit, which tracks commercial real estate loans. Morningstar puts the loan amount at around $110 million. Simon Property didnâ€™t respond to a request for comment from BusinessDen.
Lender takes back new Lincoln Park apartment building

1 week ago | businessden.com | Thomas Gounley

An apartment building along Santa Fe Drive in Denverâ€™s Lincoln Park has been taken back by a lender. An affiliate of Vancouver, British Columbia-based Trez Capital was the sole bidder at a foreclosure auction for the Art District Lofts at 1275 Santa Fe Drive. The eight-story, 115-unit building with ground-floor retail space was originally developed by Leon Cisneros of Denver-based CRE Development Investments.
Lender focuses on Unico office complex in DTC

1 week ago | businessden.com | Thomas Gounley

The Harlequin Plaza office complex in the Denver Tech Center is now owned by a lender. Wilmington Trust took ownership of the 330,000-square-foot complex at 7600 E. Orchard Road in Greenwood Village last Wednesday when no one else bid at a foreclosure auction. Wilmington, trustee of a CMBS loan originally issued by Wells Fargo, submitted a credit bid of $29.38 million. Thatâ€™s equal to the amount owed by the propertyâ€™s previous owner, Seattle-based Unico Properties, records state.
Homebuilder seeks support ahead of complaint to regulator about Xcel

1 week ago | businessden.com | Thomas Gounley

A local homebuilder is preparing to ask the Colorado Public Utilities Commission to investigate Xcel Energy over delays in servicing new residential projects â€” and hopes to show strength in numbers. Nathan Adams, owner and CEO of Denver-based RedT Homes, says the unreasonably long time the Minneapolis-based utility firm takes to provide service has pushed some of RedTâ€™s townhome projects into foreclosure, forced the company to alter sales strategy and is costing it millions.
Lutheran Medical Center site in Wheat Ridge sold to subdivision developer

2 weeks ago | denverpost.com | Thomas Gounley

A developer who has built housing around the metropolitan area is under contract to purchase the former Lutheran Medical Center site in Wheat Ridge. Chris Elliott of E5X Management is set to buy the site between 32nd and 38th avenues for redevelopment, a representative confirmed to BusinessDen. Intermountain Health, which owns the property, is set to announce Elliott as the buyer Tuesday afternoon.
Subdivision developer set to buy former Wheat Ridge hospital campus

2 weeks ago | businessden.com | Thomas Gounley

A developer who has built housing around the metropolitan area is under contract to purchase the former Lutheran Medical Center site in Wheat Ridge. Chris Elliott of E5X Management is set to buy the site between 32nd and 38th avenues for redevelopment, a representative confirmed to BusinessDen. Intermountain Health, which owns the property, is set to announce Elliott as the buyer Tuesday afternoon.
Developer sells LoHi site once eyed for hotel for $5M

2 weeks ago | businessden.com | Thomas Gounley

A developer that once planned to build a hotel on a site in LoHi has instead sold the land. Mike Mathieson, of Forbes Partnership, sold the 0.43-acre 2534 18th St. property last week for $5.3 million, according to public records. That works out to $277 a square foot. The site currently has a small office building on it and is zoned C-MX-5, which generally allows mixed-use buildings up to five stories. Mathieson purchased the site in 2013 for $2.1 million, records show.