Cordes & Company

Shrink-wrapped Telluride condos open for business

The condominium project was the five-story, $30 million luxury centerpiece of the subdivision, adjacent to the Sundance ski run in Telluride.  After the developer and general contractor abandoned the partially constructed project, a bank retained Cordes & Company as receiver to get the project into the best possible shape for sale following foreclosure.  We organized and catalogued construction materials, helped clear $6.5 million in liens, found a contractor to shrink-wrap and maintain the 60,000-square-foot structure, and otherwise prepared the property for sale.  The bank foreclosed on the property at the end of 2010 and it was purchased by a Dallas-based investment company at the end of 2011.

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
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