The Paseo, a 391,000-square-foot open-air mall, is a signature property across from the convention center and anchoring East Colorado. The project consisted of managing the asset after the impacts of COVID resulted in a default with the lender. Our role was to stabilize the asset during COVID shutdowns, manage day-to-day operations and create a redevelopment strategy. The mall housed 98 retail tenants and had a property-level staff of 5. In addition to managing day-to-day operations, we created a redevelopment plan for the complex to convert the interior-facing spaces into office suites. The property was ultimately transitioned to Onni Development through a deed-in-lieu.