Greenwood Village

This property was acquired a few months before the onset of the coronavirus pandemic, and proved to be the most challenging asset for Matheson Capital to date. The property had new tenants moved in shortly before closing in an attempt to boost occupancy, who became very problematic from day 1 of ownership, and could not be evicted before the pandemic closed the eviction courts. The presence of a few problematic tenants led to several other long-term tenants leaving voluntarily rather than be locked down in proximity. The sale was further complicated by a large loan prepayment penalty, but we were able to return 100% of investor capital.