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Los Robles Nursery will close after inventory is sold
Gazette, The (Colorado Springs), Aug 8, 2001 by Kirsten Orsini-Meinhard
As soon as all its inventory is sold, Los Robles Nursery Co. will close after a long history in Colorado Springs.
A 75-day foreclosure grace period ended Tuesday, and 13-year owner Christina Mulberger was unable to reclaim the property from its receivership, Biggs Kofford Consulting, said Doug Charlson, director of the Colorado Springs-based accounting firm.
El Paso County sheriff's deputies turned over the nursery property, at 918 W. Costilla St., to Biggs Kofford on June 20 because of debts owed the nursery's lender.
Los Robles owed Washington D.C.-based Allied Capital SBLC nearly $1.1 million, including interest and fees, according to court documents.
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After Allied purchased the property at a foreclosure sale on May 23, Los Robles was given 75 days to redeem the property under Colorado foreclosure law.
Mulberger was unavailable for comment Tuesday.
The property was put on the real estate market by Grubb and Ellis Quantum Commercial Group on July 13. The price is $900,000 including the property's two greenhouses and $850,000 without them, Charlson said.
As the receiver, Biggs Kofford will sell the inventory and personal property of Los Robles and the nursery will shut down after that happens, Charlson said.
Kent Karber, an attorney with the Springs law firm of Hall and Evans who represents Allied, said it will take 20 to 30 days to sell the inventory and then Allied will gain control of the property until it is sold. No specific closing date has been determined.
Everything in the store is marked at half-price.
Copyright 2001
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