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The former Blake Street Tavern building in LoDo has a new owner.
Denver-based Sidford Capital purchased the in-default loan for the 53,000-square-foot building at 2301 Blake St. in Denver, then took ownership through a deed-in-lieu of foreclosure last week, according to public records.
The records indicate Sidford paid $7.5 million. The company took out a $6 million loan from MidFirst Bank.
Sidford Principal Dan Grooters said the building is 66% leased to International Workplace Group (formerly Regus), which operates its Spaces coworking concept there. The remainder, formerly home to the Blake Street Tavern sports bar, which closed in 2023 after 20 years, is vacant.
The 1.2-acre property also includes two parking lots.
Sidford took ownership from Seattle-based Urban Renaissance Group, which purchased the property in July 2016 for $21.2 million, records show.
In October 2016, records show, URG took out a $12.5 million loan from Sun Life Assurance Co. of Canada that was set to mature in November 2026. But in October of this year, with $10.3 million still owed, the loan “went nonperforming as a result of a payment default,” according to a JLL listing.
URG no longer has any Denver holdings. This year, the company surrendered 2399 Blake St. to a lender, lost LoDo’s Market Center to foreclosure and sold Fox31’s broadcast building at 100 E. Speer Blvd. to the station’s parent company. The company also sold a Broomfield office building at a steep loss in November.
Sidford, meanwhile, also did a deal in Denver’s Athmar Park neighborhood last week, selling the fully leased 59,500-square-foot Athmar Park Shopping Center at 1901 W. Mississippi Ave. for $8.2 million.
Grooters said Sidford renovated the center after buying it in January 2024 for $4.6 million and brought in Planet Fitness as an anchor tenant. The company also parceled off a portion of the property’s parking lot, selling it separately for $400,000.
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Thomas Gounley
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