For the first time in nearly 30 years, Denver’s historic Larimer Square has a new owner. 

Asana Partners, a North Carolina based real estate firm announced Tuesday morning it had closed on its acquisition of the shopping and dining area for an undisclosed amount.

With the purchase, the North Carolina firm now owns 25 properties throughout nearly 250,000 square feet on Larimer and Market streets between 14th and 15th streets, as well as an adjacent parking garage.

Former owner Jeff Hermanson, who purchased the square in 1993, said Asana Partners checked every box he was searching for in a new owner.

“My goal was to find new ownership that understood the legacy of this block and would bring forth the capital needed to ensure its ongoing resiliency for a new generation, and I found that in Asana Partners,” Hermanson said in a media release. 

Asana Partners jas experience owning and operating historic mixed-use areas throughout the United States, including Deep Ellum in Dallas, South End in Charlotte, N.C., Eastside Beltline in Atlanta and Old Town in Alexandria, Va. 

“We are honored to be the next steward of this iconic portfolio,” said Brian Purcell, managing director at Asana Partners. 

“We plan to invest the necessary capital to both restore and preserve the historic nature of these buildings within their existing footprint and improve the spaces to meet the expectations of today’s retail and creative office tenants.”

In 1971, Larimer Square was designated Denver’s first historic district under former owner Dana Crawford. After Hermanson bought the block it became the home to many independent shops and restaurants.