The two-tower Denver Energy Center sold at auction last week for 3% of its price 12 years ago. Sold for $5.3M. Purchased for $176M in 2013. In 2022, JP Morgan Chase Commercial Mortgage Securities Trust bought the Denver Energy Center for $88.2M in a foreclosure auction after owner failed to make payments on its $102.6M mortgage. The 785,549 SF complex at 1625 and 1675 Broadway is just 18.2% occupied. Built in 1979 and 1980. The buyer is Los Angeles developer Asher Luzzatto. Denver now ranks No. 6 nationally for CMBS office delinquencies at 27.2%, nearly triple the U.S. average, according to Trepp. CBRE pegs second-quarter downtown Denver vacancy at 36.8%. -therealdeal / bisnow #CommercialRealEstate