The previous Blake Road Tavern constructing in LoDo has a brand new proprietor.
Denver-based Sidford Capital bought the in-default mortgage for the 53,000-square-foot constructing at 2301 Blake St. in Denver, then took possession by means of a deed-in-lieu of foreclosures final week, in line with public information.
The information point out Sidford paid $7.5 million. The corporate took out a $6 million mortgage from MidFirst Financial institution.
Sidford Principal Dan Grooters stated the constructing is 66% leased to Worldwide Office Group (previously Regus), which operates its Areas coworking idea there. The rest, previously dwelling to the Blake Road Tavern sports activities bar, which closed in 2023 after 20 years, is vacant.
The 1.2-acre property additionally contains two parking tons.
Sidford took possession from Seattle-based City Renaissance Group, which bought the property in July 2016 for $21.2 million, information present.
In October 2016, information present, URG took out a $12.5 million mortgage from Solar Life Assurance Co. of Canada that was set to mature in November 2026. However in October of this 12 months, with $10.3 million nonetheless owed, the mortgage “went nonperforming because of a fee default,” in line with a JLL itemizing.
URG now not has any Denver holdings. This 12 months, the corporate surrendered 2399 Blake St. to a lender, misplaced LoDo’s Market Middle to foreclosures and offered Fox31’s broadcast constructing at 100 E. Speer Blvd. to the station’s mother or father firm. The corporate additionally offered a Broomfield workplace constructing at a steep loss in November.
Sidford, in the meantime, additionally did a deal in Denver’s Athmar Park neighborhood final week, promoting the totally leased 59,500-square-foot Athmar Park Buying Middle at 1901 W. Mississippi Ave. for $8.2 million.
Grooters stated Sidford renovated the middle after shopping for it in January 2024 for $4.6 million and introduced in Planet Health as an anchor tenant. The corporate additionally parceled off a portion of the property’s parking zone, promoting it individually for $400,000.
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