BY FREDA MIKLIN
STAFF WRITER
On July 12, Wilmington Trust National Bank, Trustee for lender Wells Fargo, filed an action in Arapahoe County District Court requesting a receiver be appointed against Orchard & Greenwood LLC of Seattle, WA, Owner of Harlequin Plaza (Property) at 7600 E. Orchard Road in Greenwood Village due to non-payment of their mortgage.
Harlequin Plaza is next-door to Carson Park. The park is attached to Greenwood Village City Hall on Quebec Street, just south of Orchard Road.
Public records indicate that Orchard & Greenwood LLC, which bought the Property on October 16, 2012 for $26,550,000, is an entity of Unico Properties.
Unico Properties’ website lists Harlequin Plaza as being comprised of two low-rise office buildings with 327,900 square feet of Class B office space on an 18-acre campus that contains a 46,000-square-foot outdoor plaza and other amenities, including a deli, fitness center, showers, locker room facilities, and covered parking. It was built in 1980.
The complaint states that Wells Fargo loaned Unico $28 million on May 2, 2014, secured by the Property, and that the entire $28 million plus accrued interest, fees, and other charges provided for in the loan documents are due and owing as of June 13, 2024.
The court is being asked to appoint a Receiver to “take possession of and to operate the Property and to collect the Rents and to otherwise protect and preserve the Property,” because, “the lack of funding (puts) the Property in immediate danger of being materially reduced in value.”
In January, The Villager reported that the Solarium Building at 7400 E. Orchard Road, next to Harlequin Plaza and very near to GV City Hall, was also in foreclosure.