A hotel along Interstate 25 near Centennial is in foreclosure.
The Even Hotel at 7380 S. Clinton St., just north of Dry Creek Road in an unincorporated part of Arapahoe County, is owned by Banyan Lane Holdings LLC, which lists a Florida address.
The owner bought the 4-story hotel in April 2018 for $9.05 million, records show. It financed the deal with a $9.9 million loan from New York-based Ready Capital. Nawaz Gilani signed loan paperwork on behalf of the ownership LLC.
That loan needed to be repaid by last October but wasn’t, according to the lender.
In late February, Ready Capital filed to foreclose on the property, saying ownership still owed $8.1 million in principal, plus an additional $750,000 in interest.
The hotel is operated by Converge Hospitality. A request for comment from ownership conveyed through the property’s general manager was not returned.
The hotel is scheduled to be auctioned by Arapahoe County on June 24. But foreclosure auctions are regularly pushed back and can be canceled if ownership reaches a deal with the lender.
Even Hotel is a hotel brand from InterContinental Hotels Group, or IHG. Other distressed hotels in the Denver area include a Holiday Inn Express in Wheat Ridge, which is scheduled for a foreclosure auction on Thursday. A Hyatt House in Aurora was foreclosed on last September.
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