Republic Plaza’s owners, like those of many downtown towers struggling with the reshuffling of office space following the COVID-19 pandemic, are behind on paying their debt. The tallest building in Denver is facing receivership after defaulting on its loan in March, according to a complaint filed Monday by the U.S. Bank National Association on behalf of lenders with the Denver District Court.
A receiver would be responsible for protecting and maintaining the property to ensure the lender’s debt is paid back.
The 56-story Republic Plaza at 370 17th St. in Upper Downtown is owned and managed by Brookfield Properties, which recently rebranded to BGRE. MetLife Investment Management is also an owner of the building…