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.
https://www.denverpost.com/2026/10/13/x-denver-apartments-caretaker-lawsuit/
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?