Crescent Lands $43M Refi for Denver Mixed-Use Asset

August 5, 2026

Finance Denver Mixed Use News More Office West

SouthState Bank originated the five-year loan.

Crescent Real Estate has refinanced 200 & 250 Columbine St., a 121,990-square-foot, Class A mixed-use property in Denver. JLL Capital Markets worked on behalf of the borrower to secure the loan for the fully leased property.

SouthState Bank originated the five-year $43.4 million note, according to Yardi Matrix information. The owner purchased the asset in 2021 as part of an $82.8 million portfolio transaction with Western Development Group.

Located at 200 Columbine St., the eight-story building came online in 2015 in Denver’s Cherry Creek North submarket. It is just off East 2nd Avenue and has access to multiple transportation and dining options. Downtown Denver is less than 4 miles northwest.

The property’s mixed-use design encompasses 91,208 square feet of office space, 30,782 square feet of retail and a 134-space underground parking structure. The tenant roster comprises 23 office users and restaurants, including Compass, Obermeyer Wealth Partners, Cambiar Investors and Blue Island Oyster Bar.

The JLL Capital Markets team representing the borrower included Senior Managing Directors Leon McBroom and Jim Curtin and Vice President Emily Goldsberry.

Denver among top markets for office sales

Yardi Matrix tracks more than 50 office properties in Denver’s Cherry Creek totaling 5 million square feet, with two assets planned, three under construction and three projects in the prospective phase. Next to 200 & 250 Columbine St., a 73,400-square-foot property at 200 Clayton St., landed a nine-year $33.5 million construction loan from CIBC Bank USA earlier this year. The asset includes 5,600 square feet of retail.

Another nearby property also recently secured refinancing. Last month, Asana Partners obtained $125 million for Larimer Square, a 513,000-square-foot, adaptive-reuse and mixed-use property in downtown Denver. Its tenant roster includes restaurants, office users and retailers.

As of May, Denver ranked second among U.S. western markets for office transaction volume, with 30 properties trading for a combined $369.9 million and totaling 4.1 million square feet. The metro’s dollar volume saw a 13 percent uptick compared to the same period last year, while the total square footage traded rose 9 percent.