A lender has initiated foreclosure proceedings on a hotel near Denver International Airport.

The 7010 N. Tower Road property is home to a three-story AmericInn by Wyndham and owned by Tower Hospitality LLC, which records show bought it in 2010 for $4.5 million.

In 2019, records show, the property owner took out a $4 million, 10-year loan from Axos Bank. This past April, the loan was transferred to a new entity affiliated with Serene Investment Management of California.

Serene submitted paperwork to begin the foreclosure process last week, saying Tower Hospitality still owes $3.55 million in principal on the original loan.

“While a foreclosure has been initiated, we are in active, cooperative talks with the Borrower and expect a settlement / forbearance will be executed soon,” Serene pr

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