Exclusive: Revamped Mixed-Use Denver Assets Score $125M
Wells Fargo issued the note for the historic portfolio.
Asana Partners has secured $125 million for Larimer Square, a 513,000-square-foot, adaptive-reuse and mixed-use property in downtown Denver, according to Yardi Matrix information. Wells Fargo Bank provided the loan.
Larimer Square is Denver’s oldest surviving commercial district, with buildings dating back to 1876. The area was once home to the Denver’s first city hall and was designated the city’s first historic district in 1971. Located downtown, it sits a few blocks from Metropolitan State University of Denver and the Golden Triangle.
The loan covers the properties at 1400-1465 Larimer St. and 1317 14th St. The largest portion of the collateral is the 15-building, 240,847-square-foot cluster at 1400 Larimer St., which dates back to 1886 and underwent several construction phases through 2003. The four-story complex sits on 2.3 acres and includes 142,000 square feet of ground-floor retail. Its tenant roster includes restaurants, office users and retailers.
A new approach to retail and mixed-use
As markets and consumer behavior evolve, retail and mixed-use design are increasingly transforming into community-oriented spaces. Recent retail trends suggest that families have become a key traffic driver for “retailtainment,” with outdoor malls outperforming mixed-use and traditional mall destinations in 2025, according to Placer.ai data.
What has changed is the role these destinations play. Shopping centers are no longer solely shopping-focused, but they are becoming storytelling platforms. Asana Partners currently manages 10.3 million square feet of retail assets in 25 cities. This week, the firm joined forces with Norges Bank Investment Management for Asana Partners Strategic Partners I, a joint venture focused on core and core-plus neighborhood retail assets. Norges committed $500 million in equity to the partnership.
You must be logged in to post a comment.