CREJ

Page 30 —

COLORADO REAL ESTATE JOURNAL

— December 7-December 20, 2016

Call the West’s leading

CommeriCal inspeCtion

firm today.

1-800-248-1976

nationalinspection.net info@nationalinspection.net

CommerCial

real estate

Due Diligence

Environmental Site Assessments

Property Condition Assessments

More than

85,000

inspections since 1975

Property Management

Denver Metro BOMA kicks off its annual toy drive

Denver Metro Building Own-

ers and Managers Association

kicked off its 21st annual gift

and toy drive Nov. 14. Dona-

tion boxes are in buildings

across the metro area. The drive

aims to make the holiday sea-

son brighter for thousands of

children and adults.

The BOMAGift and ToyDrive

began in 1995 as a small collec-

tion of buildings gathering a

few hundred items for charity.

Today, it is one of Colorado’s

largest gift and toy drives in the

area with more than 100 office

buildings from Longmont to

Castle Rock collecting in excess

of 25,000 donations that are

distributed to more than two-

dozen local charities.

BOMA volunteers dropped

off collection boxes to par-

ticipating buildings the week

of Nov. 14. In December, the

boxes will be picked up and

donations will be sorted by

more than 100 BOMA volun-

teers before being distributed

to major charities including

Mount Saint Vincent, Denver

Children’s Home, Center for

Work Education and Employ-

ment, Champa House, Colo-

rado Coalition for the Home-

less, The Delores Project, Den-

ver Children’s Advocacy Cen-

ter, Father Woody’s Gateway

Women’s Center, Jeffco Action

Center, SafeHouse Denver and

the Visiting Nurses Associa-

tion.

Popular items to donate

include hats, scarves, gloves,

blankets, books, make-up, wal-

lets, games, gift cards, personal

care items, sports equipment

and toys.

For more information, con-

tact Denver Metro BOMA at

303-383-4870 or visit www. bomadenver.org. s

Employees from BOMA member buildings and vendors donate their

time to collect, sort and distribute the donations during the holiday

season.

Universal Protection Service provides the best security

solutions, personalized customer service and unmatched

value available. We now also offer our clients Safety Act

protection from the Department of Homeland Security.

Universal offers an expansive range of security solutions,

consultations and investigations for properties of

every type, including:

Airports

Corporate Campuses

Distribution/Manufacturing

Facilities

Government Facilities

Healthcare Facilities

Office Buildings

Petrochemical Facilities

Residential Communities

Retail Centers

Educational Facilities

For more information call

Lorie Libby at 303-901-9037

www.universalpro.com

rado real estate brokers should

still consider the application

of Colorado law, including

the rules of the Colorado Real

Estate Commission. Unfor-

tunately, a plethora of such

laws may prohibit referral fees

that may be allowable under

RESPA.

For example, the establish-

ment of a referral fee relation-

ship in a commercial trans-

action may still result in an

affiliated business arrange-

ment subjection to commission

rules and statutes. Such rules

and statutes could require that

disclosures be made or they

could forbid the arrangement

altogether, even though RESPA

may not apply.

Similarly, the commission

rule pertaining to conflicts

of interest applies to brokers

involved in any transaction,

regardless of its nature as

either commercial or residen-

tial. A conflict of interest likely

arises where a broker makes

a referral of business to a set-

tlement-service provider who

has agreed to compensate the

broker.

Brokers must also take care

to avoid inadvertently engag-

ing in conduct which has the

effect of defrauding a lender.

This can occur where a refer-

ral fee or kickback agreement

has an impact on a borrower’s

creditworthiness, resulting in a

detriment to an unsuspecting

lender. Under similar circum-

stances, a broker could inad-

vertently violate a fiduciary

duty if a seller’s interests are

harmed by the borrower’s dis-

torted financial qualifications.

Moreover, Commission Rules

E-18 and E-19 appear to prohib-

it certain referral fees between

brokers, mortgage lenders

and title insurance companies,

regardless of whether a “feder-

ally related mortgage loan” is

involved.

Finally, even where a refer-

ral fee is permitted, brokers

must still be careful in how

they implement the referral

fee. For example, a broker may

not require the use of an affili-

ated business arrangement or

a particular provider of settle-

ment services as a condition

of obtaining services from that

licensee. All of these are con-

siderations applicable to com-

mercial brokers irrespective of

RESPA.

Law

Continued from Page 17 Griffis/Blessing to manage 1150 Kelly Johnson Blvd.

Everty Colorado LLC select-

ed Griffis/Blessing Inc. to pro-

vide property management

services to 1150 Kelly Johnson

Blvd. in Colorado Springs.

Farmers Insurance Agency,

CHI Foundation and iMort-

gage are some of the tenants

that occupy the 46,245-square-

foot, two-story, Class A office

building.

The commercial property ser-

vices group team of Jeremiah

Nease, CPM, portfolio man-

ager, Kelly De Leon, portfolio

assistant, andDanVancil,main-

tenance technician, will handle

day-to-day operations.

The Colorado Springs office building, 1150 Kelly Johnson Blvd., is the first U.S. property for owner Everty

Colorado LLC.