Judge places Greeley’s University Flats apartments into receivership

GREELEY — A Weld County District Court judge has ordered that a receiver take over management of the University Flats apartment property and finances as Fannie Mae, which controls a sizable loan made to the student-housing community’s owners, prepares to foreclose.

Dallas-based receiver Trigild IVL has the authority to “enter on and take possession and control of the mortgaged property plus all revenues, rents, including pre-paid and other rents, utility, tenant and other security deposits, storage fees, parking fees, lease payments, royalties, issues, profits, revenues and income,” Judge Todd Taylor ordered this week. 

Nelson Brothers Professional Real Estate LLC in Aliso Viejo,…