Ex-Denver Broncos linebacker Von Miller has worked out a deal with the man who regrets buying his mansion near the team’s headquarters.
Miller, now with the Buffalo Bills, dropped his bid to foreclose on the home on the 17800 block of East Easter Ave. in Foxfield last week, according to Arapahoe County records.
Miller sold the 19,000-square-foot home in November 2022, a year after being traded by the Broncos. The buyer, Oluwole Jolaoso, paid $3.7 million, and financed the purchase with a $3 million loan from Miller himself, records show.
It was intended to be a bridge loan, giving Jolaoso one year to secure financing from another source, according to loan documents. He was to pay about $23,000 a month in interest during that time — a 7.5 percent rate.
Jolaoso, however, did not make the monthly payments, so Miller filed to foreclose on the property in early September of last year. Jolaoso told BusinessDen at the time that he wasn’t paying because the home hadn’t been delivered to him in the agreed-upon condition. He specifically cited problems with a Creston “smart home” system, which he said had impacted his ability to rent out the property as planned for tens of thousands of dollars a month.
“I was constantly told the property was turnkey ready,” Jolaoso reiterated in a phone call Monday.
Miller dropped his bid to foreclose on the property on Feb. 8. Miller and Jolaoso modified their original loan agreement just over a week prior, at the end of January, according to Arapahoe County records.
By that point, Jolaoso owed Miller $3.5 million. As part of the changes, Jolaoso agreed to make a lump-sum payment of $2.775 million to Miller, leaving a pending loan balance of about $725,000. Records show Jolaoso took out a new loan from FirsTier Bank on the same day.
Miller’s remaining loan with Jolaoso has a seven-month term, with Jolaoso again making interest-only payments — this time at 9 percent, or about $5,450 a month.
The modification agreement references Jolaoso’s claims about problems with the property, and appears to take no responsibility.
“Lender disputes that the systems were not working and in proper order upon the sale of the Property to Borrower,” the agreement states.
But Jolaoso told BusinessDen Monday that the issues were fixed in early December — and he didn’t pay for it.
“We had a disagreement and we worked it out,” he said.
Asked if he regretted purchasing the mansion, Jolaoso responded, “Of course I do.”
“I’ve done a lot of real estate transactions … I just never deal with one that was this crazy,” he said.
Jolaoso said he’s a private person, and hasn’t enjoyed the attention the saga — “especially your story” — has brought. He noted that Miller’s house had been on the market for months when he looked at it, and says he believes Miller’s representatives failed to disclose the defects because they were desperate to sell it.
Jolaoso said he rented the property out “here and there” after buying it, while letting renters know about the issues. He said he’s still determining his long-term plan for the property.
According to Westword, the home was recently featured on the Lifetime series “Married at First Sight,” which follows couples who get married without having previously met.
Miller is represented by attorney Britney Beall-Eder of Boulder law firm Frascona, Joiner, Goodman and Greenstein. She did not respond to a request for comment Tuesday.
This story was reported by our partner BusinessDen.
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