Judge appoints receiver for 455-unit X Denver tower after no-show. Hoodline ^ | October 12, 2026 | Ethan Morgan Posted on 10/16/2026, 9:39:25 AM by george76 A Denver judge has appointed a court receiver for the 455-unit X Denver apartment complex near Coors Field after no representatives of X Denver appeared at a hearing. Judge Heidi Kutcher appointed Trigild, a distressed real estate firm, as receiver for the tower at 3100 Inca St. following a hearing Friday that no representatives of X Denver attended. The appointment follows Mack Real Estate Group's request for a receiver, as detailed by BusinessDen. The $170 million loan backing X Denver was originated by Mack Real Estate Group in 2022 and went into default after reaching its maturity date in January 2025, according to the Denver Business Journal. Mack asked the court to appoint a receiver for the property. A Legal Playbook Years in the Making... Mack's involvement in X Denver's debt comes amid broader distress in developer The X Company's portfolio. In May 2025, Newmark was hired by Mack Real Estate Credit Strategies to market $325 million in nonperforming debt tied to both X Denver and its Phoenix counterpart, with $170 million attached to the Denver tower and $155 million to X Phoenix, X Denver is not the first local tower lost by The X Company. CoStar reported that CIM Group assumed ownership of its sister project, X Denver 2, at 2130 Arapahoe St., after issuing a $105 million construction loan. Part of a Wider Downtown Denver Reckoning... X Denver's receivership arrives amid broader distress in Denver's commercial real estate market. Trigild was separately named receiver in August for Republic Plaza, Colorado's tallest building, after owner Brookfield Properties defaulted on $230 million in mortgage debt, the Real Deal reported. The developer's troubles stretch beyond Colorado, too - Hoodline previously reported that a December trustee sale looms over X Phoenix, where Mack Real Estate Group scheduled the auction of Phase 1 over an unpaid $128 million loan after construction on Phase 2 stalled in late 2023. The company was founded in 2018 by CEO Noah Gottlieb, a former executive at Miami-based Property Markets Group, who built the business around combining co-living suites, traditional apartments, coworking space, and members-only social clubs, per the Real Deal. For now, Trigild's appointment as receiver puts the Inca Street tower in receivership while the fallout from the developer's defaulted debt continues to play out in court. | / | Click here: to donate by Credit Card Or here: to donate by PayPal Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794 Thank you very much and God bless you. | 1 posted on 10/16/2026, 9:39:26 AM by george76 To: dynachrome; MileHi; backspace; Balata; bboop; Ben Dover; Benito Cereno; BigEdLB; bluejean;... Colorado Ping ( Let me know if you wish to be added or removed from the list.) 2 posted on 10/16/2026, 9:41:04 AM by george76 (Ward Churchill: Fake Indian, Fake Scholarship, and Fake Art) To: george76 I'm a fairly longtime believer in REITs as a good income balancer in a diversified portfolio. Nifty way to add some real estate exposure without the direct headaches. Don't get me wrong - I'm not dumping (whether Twain or Will Rogers - the apocryphal "Buy land, they're not making any more of it" will never stop being true). I always do my due diligence regardless of prevailing conditions, but debt loads are becoming a REAL problem in all areas of investing and - especially in the real estate realm, I've throttled back my 'acceptable' line for debt load substantially. This is just one instance - a drop in the bucket (not even that) - but way too many stories like these popping up like rabbits. 3 posted on 10/16/2026, 9:47:31 AM by Capn Hayek (Capital is not responsible for Labor's lack of planning) To: Capn Hayek The 450-unit apartment complex has been in default of a $170 million loan since early 2025... The building's assessed value of $93.1 million is significantly lower than the outstanding loan balance, highlighting the severe financial distress surrounding the asset.= X Denver's assessed value is $93.1 million, or just 55% of its $170 million loan. 4 posted on 10/16/2026, 9:52:16 AM by george76 (Ward Churchill: Fake Indian, Fake Scholarship, and Fake Art) To: george76 Given a tight housing market, how can an apartment tower be valued for less than the loan? Or was too much commercial space built in? 5 posted on 10/16/2026, 11:59:54 AM by pierrem15 ("Massacrez-les, car le seigneur connait les siens") Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works. FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794

Brookfield Properties JV to land $1.4B refi for student portfolio. The properties are located across 16 states and 25 markets. A partnership comprising several Brookfield Properties investment funds and Scion SZ is set to secure a $1.4 billion refinancing loan for a 39-asset student housing portfolio, according to a Fitch Ratings report. Morgan Stanley Capital Holdings, Goldman Sachs, Citi Real Estate Funding Inc. and Bank of Montreal will co-originate the two-year, floating-rate, interest-only mortgage loan, which includes three one-year extension options. The transaction is scheduled to close by Oct. 15, 2026. Loan proceeds will retire $1.3 billion in existing debt, cover $25 million in corporate debt and $28 million in closing costs, and return $32.8 million of equity to the sponsorship. KeyBank National Association and CWCapital Asset Management will act as master and special servicer, respectively. Nearly 25,000 beds scattered across 29 markets. Featuring a total of 24,960 beds and a weighted average completion year of 2012, the assets in the portfolio are located across 16 states and 29 markets. The majority of the properties are in Texas, North Carolina and Mississippi. The top three largest student communities are: * Northpoint Crossing, a 1,925-bed property in College Station, Texas, serving Texas A&M University; * Copper Beech San Marcos, a 1,250-bed property in San Marcos, Texas, serving Texas State University; * Lark Northgate, a 747-bed property in Collage Station, Texas, serving Texas A&M University. Brookfield Strategic Real Estate Partners IV, IV-A, IV-B and IV-C, together with Scion SZ, have owned and managed the properties since acquiring them in 2021. Since then, ownership has invested more than $89.2 million in capital improvements, including $34 million in unit upgrades, $31.8 million to address inherited deferred maintenance, $12.8 million in amenity and property feature upgrades and $10.6 million in a large retail space conversion. The portfolio has an aggregate as-is appraised value of $1.8 billion, while its portfolio market valuation stands at $1.86 billion. It reached 89.6 percent occupancy based on the October 2026 prelease rent rolls, according to Fitch Ratings. As of August, preleasing across Yardi 200 clocked in at 93 percent, up 80 basis points from August 2025 and 120 basis points from August 2024, according to a recent Yardi Matrix student housing national report. The figure is expected to rise further, to approximately 94 to 94.5 percent. Performance remains uneven, however, with 52 schools recording below 90 percent in preleasing. North Carolina State was among them, at 78.8 percent, after 2,195 beds were delivered through August, with another 970 beds in the construction pipeline for 2027.

(L-R) Tom Fekete – Senior Vice President, Brookfield; Bruce Baudinet – Chairman, Precinct Capital; Karen McKeown OAM – Member for Penrith; Dylan Baudinet – CEO, Precinct Capital; Matt Hawkins – Business Operations Director, FDC Group. PENRITH’S Great River Walk will finally connect the city centre to Western Sydney Lakes as part of a landmark commercial […]