Auraria Student Lofts seeks lengthy extension of exclusive periods

By Sarah Lizee

Olympia, Wash., Oct. 3 – 5280 Auraria, LLC, which does business as Auraria Student Lofts, is seeking a 120-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed with the U.S. Bankruptcy Court for the District of Colorado.

The company asked the court to extend the plan filing period through Feb. 6 and the solicitation period through April 6, 2023.

The primary driver for the debtor’s bankruptcy filing was a foreclosure proceeding in Denver, filed by the debtor’s largest secured lender, DB Auraria LLC.

On Sept. 14, DB also filed a motion for order lifting the automatic stay to foreclose on the property. The debtor said it plans to file an objection this week.

The debtor is resuming normal operations, rehiring staff, and similar steps. It has also continued to develop arrangements for the renovation and marketing of the property.

The company said the extension is necessary because it has spent significant time defending against DB Auraria.

The San Clemente, Calif.-based company provides student housing in Denver. The company filed bankruptcy on June 9 under Chapter 11 case number 22-12059.

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