Lender foreclosing on developer’s Broomfield property - Jonathan Cartu Industrial & Residential Real Estate Firm
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Lender foreclosing on developer’s Broomfield property

Lender foreclosing on developer’s Broomfield property

Lender Pine Financial Group Inc. is foreclosing on property owned by a Broomfield commercial real estate developer, Broomfield Public Trustee data show.

The property, located near Broomfield’s Arista district, is owned by Green RV Storage LLC.

That entity is managed by Stuart Dobson and David Fingerhut of Colorado Real Estate Brokers Inc. and Jason Pavlovic of Surety Realty Inc.

The group is developing Northwest 36, a planned nine-building commercial and flex space development at 11100 Broomfield Lane.

The foreclosed property represents a portion of that parcel.

Public Trustee documents show that Green RV Storage LLC owes $3.13 million of an original loan of $4 million. A public auction is set for Dec. 12.

Dobson declined to comment, and a Pine Financial Group representative did not comment, beyond providing BizWest with a general location of the foreclosed property.

Northwest 36 is an 11-acre plot located just south of the Arista mixed-use development along U.S. Highway 36. It has the capacity to build up to 150,000 square feet of space within nine buildings, with some buildings containing units as small as 1,600 square feet.

In June, Dobson told BizWest that the development is drawing considerable attention from companies looking for maximum security as they work on sensitive research and development.

Biosecurity company GeneThera Inc. (OTCMKTS: GTHR) has signed on to be Northwest 36’s first tenant

In its annual report filed in June, the Westminster company said that it made an initial agreement in early April to purchase a 16,000-square-foot building in the business park to serve as its headquarters and main research facility. It expects to complete construction by fall 2021.

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