DENVER — North Carolina-based Asana Partners closed on its purchase of Larimer Square Tuesday morning, marking the first time the historic downtown Denver block has traded hands in nearly 30 years.
Asana declined to disclose the sale price, and it was not immediately available in public records.
The company now owns 25 properties totaling nearly 250,000 square feet on Larimer Street and Market Street between 14th and 15th streets, as well as a 306-space parking garage at 1422 Market St.
Brian Purcell, managing director at Asana Partners, said the firm is "honored" to be the next steward of the portfolio.
"The acquisition of Larimer Square is consistent with Asana Partners’ investment approach of targeting dynamic, walkable urban and near-urban properties in high-growth markets such as Denver," Purcell told Denver Business Journal in an email. "We see an opportunity to enhance this iconic asset by restoring and preserving these properties while improving interior spaces to meet the expectations of today’s retail and creative office tenants."
Asana purchased the Larimer Square properties from longtime owner Jeff Hermanson, who has owned the block through various entities since 1993, according to property records.
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