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Fort Collins Courtyard by Marriott faces foreclosure – Denver, Colorado

Denver, Colorado 2021-12-03 07:56:04 –

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Courtyard by Marriott on 1200 Oak Ridge Drive in Fort Collins facing foreclosure. Chris Wood / BizWest

This story was first published on BusinessDen’s news partner, BizWest.com.

According to a document submitted to a Larimer County civil servant, the Courtyard by Marriott on 1200 Oak Ridge Drive is facing foreclosure.

The hotel is owned by RLC-IV CYFC LLC, which is registered at the same address as Rockies Lodged Capital, a Denver-based hospitality real estate company. According to the foreclosure document, it is behind the $ 8.9 million note with an unpaid $ 8.2 million. The original lender was Colorado Business Bank. This memo is currently held by BOKF.

Attorneys at BOKF NA, the successor to Rockies Lodge Capital and Colorado Business Bank, have not responded to requests for comment.

Rockies Lodged Capital purchased a 112-room hotel for $ 12.9 million in 2017, according to Larimer County asset records.

This is not the first time this Courtyard by Marriott has been foreclosed. Previously, it was seized in 2009, owned by Los Angeles-based Integrated Capital LLC.

A proposal to redevelop the Residence Inn at 1127 Oak Ridge Drive, which is adjacent to this hotel, into an apartment complex is also under consideration with Fort Collins planning staff. The plan is to convert the courtyard into 118 studio apartments and 113 residence inns into 121 studios, 1 bedrooms and 2 bedrooms. Residence Inn also owns Rockies Lodge Capital.

Fort Collins Marriott

Courtyard by Marriott …

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Fort Collins Courtyard by Marriott faces foreclosure Source link Fort Collins Courtyard by Marriott faces foreclosure

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