Cordes & Company

DU student housing apartment complex

This property is a 171-unit student apartment complex that opened in 2009 in a thriving neighborhood surrounding the University of Denver.  The property experienced financial challenges because of low occupancy.  After default of the secured lender’s debt, Cordes & Company was appointed receiver.  We worked with a property management company to improve occupancy and stabilize the operations.  Because of our forensic research, we identified nearly $450,000 of property-related funds held by the debtor in a separate bank account, most of which was ultimately recovered and provided to the secured lender.  The original lender sold its note just prior to the foreclosure to a third party.  After the foreclosure sales, we worked with the note purchaser on a successful transition.

Colorado
5299 DTC Boulevard
Suite 600
Greenwood Village, CO 80111
Telephone: 303.721.8755
Minnesota
2677 N. Innsbruck Drive
Suite A
New Brighton, MN 55112
Telephone: 612.455.6027
California
2030 Main Street
Suite 1600
Irvine, CA 92614
Telephone: 949.379.1202
© CORDES & COMPANY