DENVER – Kenai Capital Advisors (“Kenai”) today announced the successful sale 2926 Umatilla St, a 30,553-square-foot office building in the popular Lower Highlands (“LoHi”) neighborhood of Denver, Colorado. The asset was delivered mid-construction, with an estimated six months of remaining work required to achieve Certificate of Occupancy.
Kenai represented the lender-owner in this transaction. Upon the lender’s formal assumption of control in September 2025, the property remained encumbered by multiple mechanics’ liens and unresolved construction-related claims. The building had no in-place income and required a buyer capable of navigating both completion risk and title complexity.
Despite these challenges, Kenai Capital Advisors successfully sourced an all-cash buyer willing to transact as-is and commit to a compressed diligence and closing timeline, allowing the sale to be completed before year-end. Kenai’s process focused on identifying buyers willing to acquire an incomplete development while maintaining certainty of execution for the lender.
“This was not a traditional office sale,” said Canyon Law of Kenai Capital Advisors. “The lender stepped into a half-built asset with no income stream, outstanding liens, and real construction risk. By running a targeted process and focusing on buyers who could close all-cash and move quickly, we were able to deliver a clean exit and a high-certainty outcome in a very short window.”
The transaction further underscores Kenai Capital Advisors’ special situations expertise, even on incomplete construction with complicated title. Kenai continues to advise lenders, special servicers, and receivers on maximizing recovery through tailored sale processes and disciplined execution.
