These apartments sit high above downtown Denver, in the same building as the Ritz Carlton Hotel and Ritz Carlton Condominiums. This property consists of 193 apartments on the top floors of the building, with spectacular views of the mountains and the city. The property is also part of a condominium association that encompasses the entire city block. When foreclosure proceedings were initiated related to a considerable secured loan, Cordes & Company was named the receiver. We maintained the property during the foreclosure process, dealt with various physical property and tenant issues, and transitioned property management control to a new third party. Special challenges included shared services with the Ritz Carlton and issues with other financially troubled condo owners in the HOA. By the time foreclosure took place, the property was financially stable, current with its operating obligations and making significant payments towards the debt obligation.