X Denver, a 455-unit apartment building near Coors Field, has fallen into receivership one month after the building’s lender requested a receiver be appointed to manage the property.

In early September, New York-based Mack Real Estate Group asked a court to appoint Trigild IVL LLC as the receiver of X Denver after its developers defaulted on a $170M loan tied to the property at 3000 and 3100 Inca St.

Denver District Court Judge Heidi Kutcher approved the request, appointing Trigild as the receiver Friday, the Denver Business Journal reported. 

Trigild, a national commercial real estate firm specializing in court-appointed receivership and bankruptcy that also serves as the receiver of Republic Plaza, will manage the property. It may sell X Denver if MREG approves, according to the DBJ.

X Denver was built in 2021 by Chicago-based The X Co. Its developers obtained a loan from MREG in January 2022.

Representatives of X Denver didn’t appear in court Friday and didn’t respond to the complaint by the lender. The representatives have three business days to give Trigild access to the building and necessary documents, including current leases, the DBJ reported, citing the court order. 

The X Co., which develops coliving spaces, also defaulted on a loan tied to a Phoenix property. Debt on the Phoenix and Denver properties was listed for sale in May 2025.

The Chicago developer’s website lists additional properties in Houston, Chicago, California and Florida, with a pipeline of more than $1B in asset value. The company also built a 22-story apartment complex in Denver’s Five Points in 2023. It sold the building a year later to its lender, CIM Group, for about $102M.