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Four apartment complexes near downtown Greeley face foreclosure on $18 million of debt, BizWest reported on October 5, 2026. Summit Greeley Apartments LLC is the owner BizWest names. If you rent in Greeley, own Weld County property or plan to buy or sell a home in Greeley, here is what a foreclosure does step by step, who it affects and what to do now.
Call or text 303-955-4220. A live person answers. Not a robot, not a phone tree.
$18M Debt facing foreclosure Four apartment complexes near downtown Greeley | +57% Colorado foreclosure filings, first half 2026 ATTOM Data, vs a year earlier |
3,943 Colorado filings, January to June 2026 Second-fastest rise of any state | 400 Greeley homes for sale on Oct 8 Average price $493,115, 71 days on market |
What happened in Greeley
BizWest reported that Summit Greeley Apartments LLC faces foreclosure on four rental complexes near downtown Greeley with $18 million owed. BizWest has not published the lender or a sale date in the part of the story open to readers. The same week, U.S. Bank took back a building at 1208 Dallas St. in Aurora's Edge at Lowry complex after no one bid at the October 8 auction, BusinessDen reported. Both stories fit the state trend: Colorado foreclosure filings rose 57% in the first half of 2026.
What a foreclosure does, step by step
| Step | What happens | Who it affects |
|---|---|---|
| Default | The owner misses loan payments and the lender sends a notice | The owner and the lender |
| Filing | The lender files with the county public trustee and the sale is scheduled | The owner, who can still sell, refinance or catch up |
| Auction | The property sells to the highest bidder, and the lender takes it back if no one outbids the debt | The lender, bidders and the tenants |
| Bank-owned (REO) | The lender lists the property and sells it as-is | Buyers, investors and the neighbors |
A filing is not a sale. An owner can sell the property, refinance or pay the loan current before the auction. See how a short sale works and Colorado short sales.
If you rent in a foreclosed building
A tenant with a valid lease can stay until the lease ends unless the new owner will live in the unit; every other tenant gets at least 90 days' notice. That is the federal Protecting Tenants at Foreclosure Act. Keep paying rent to the address your lease names until you get written notice of a new owner, and keep your lease and payment records.
What it means for Greeley and Weld County real estate
- Buyers: foreclosures produce bank-owned sales, sold as-is. Read how to buy a bank-owned home in Colorado, then search Greeley homes for sale, HUD homes and short sale homes.
- Investors: apartment-building foreclosures reset values. Lenders sell the property through a listing broker and price it from a broker price opinion.
- Sellers: comparable sales set your price, not the nearby foreclosure. Start with a free home value report and read how to sell your Colorado home.
- Owners behind on payments: you have options before an auction. Call 303-955-4220 and read short sale help for Colorado homeowners.
Lenders and asset managers with Colorado property
The Kenna Real Estate Group lists and sells bank-owned property and short sales and prepares residential and commercial broker price opinions, exterior BPOs in 24 hours. See order a BPO or send us an REO listing and our REO and BPO partner page.
