A 17-story Denver office in Uptown sold for a fraction of its last purchase price following a foreclosure that led to the building being repossessed by the lender.
Englewood-based real estate company Homeland and local businessman Craig Clark, who owns Pillows.com, bought the Trinity Place office at 1801 Broadway for $6M, according to the Denver Business Journal.
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Trinity Place was last purchased in 2019 for $40.2M by the Chicago-based company Expansive, previously Novel Coworking, the DBJ reports. Expansive later defaulted on a loan, and its lender, LoanCore, acquired the property in foreclosure proceedings in a transaction valued at $34.6M.
The Class-B building is 195K SF, more than 118K SF of which is available for lease, according to marketing materials. Recent upgrades to Trinity Place include a new common conference room, a tenant lounge and self-serve grab-and-go food options.
The office’s ground floor houses Savina’s Mexican Kitchen, formerly a La Loma location, and a local shipping company.
The deal adds to a string of discounted sales of offices in downtown. In the last quarter of 2025, the Johns Manville Plaza, at 717 17th St., sold for $28.7M, down from $205M in 2020, according to Lightbox.
The Luzzatto Co. also snagged offices for cheap in 2025, picking up the two-tower Denver Energy Center at auction for around $5.3M — a property that last traded for $176M in 2013. And the company bought two offices on 17th Street for $3.2M, down from a $200M valuation in 2019.
Luzzatto plans to convert the Denver Energy Center and offices on 17th Street to residential and mixed-use properties, which could create more than 1,000 new multifamily units.
Last year, investors took advantage of the distressed office market and low prices to scoop up buildings for new opportunities, leading to $416M in sales in early 2025.
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