First Stone Development’s POP Denver Apartments on Santa Fe in legal trouble over $35 million loan

  • 7/15/2026

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Denver Business Journal

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Highlights
POP Denver Apartments could face a court-ordered receiver due to unpaid loan.
First Stone Development owes $38.3 million and has defaulted on payments, a lender says.
The 123-unit building sits 17% vacant amid metro-wide apartment oversupply.

First Stone Development
Leonard Taub | Managing Member, Development

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