Denver Court Appointed Receiver for X Denver

The 455-unit apartment building faces new management following a $170 million loan default.

Updated on Oct. 13, 2026 in Apartments

Denver Court Appointed Receiver for X Denver

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A Denver District Court judge has appointed Trigild IVL LLC as the receiver for the 455-unit X Denver apartment building. This legal action follows the property developers' default on a $170 million loan from Mack Real Estate Group.

Why it matters

The appointment of a receiver often precedes a property sale, shifting management oversight after the developers failed to address the lender's complaint. This transition impacts the ongoing operations of the residential complex located at 3000 and 3100 Inca St.

X Denver features 455 apartment units and was built in 2021. The building is tied to a $170 million loan that was originally secured in January 2022.

The players

Heidi Kutcher

Heidi Kutcher is the Denver District Court judge who issued the order appointing a receiver for the apartment complex.

Trigild IVL LLC

Trigild IVL LLC is the third-party firm appointed to manage the property and its transition following the default.

Mack Real Estate Group

Mack Real Estate Group is the lender that requested the receivership after the developers defaulted on their loan.

The X Co.

The X Co. is the developer responsible for constructing the X Denver building and the Five Points complex.

The details

The developers of the property failed to appear in court or respond to the lawsuit filed by the lender. Under the court order, representatives must grant Trigild access to all building documents and the property itself within three business days.

X Denver was built in 2021.
Developers obtained the loan in January 2022.
A developer project in Five Points was completed in 2023.
Debt on the property was listed for sale in May 2025.
The receiver was appointed on October 9, 2026.

Culture Shift

The transition of X Denver to receivership highlights a broader trend of institutional intervention in large-scale residential developments facing financial distress. This shift reflects a cooling environment for high-density developers who previously expanded rapidly during the post-2020 housing boom.

Residents of X Denver may experience changes in management protocols and facility operations as the new receiver takes control of the building. The court order mandates that property representatives grant immediate access to building documents and the premises within three business days.

The takeaway

Large-scale residential projects often face significant operational changes when developers fail to meet debt obligations. Residents and stakeholders should monitor public property records for further developments regarding potential sale listings.