JLL’s Hotels & Hospitality Group recently arranged the refinancing for the Magnolia Hotel Denver, a Tribute Portfolio Hotel by Marriott, a 297-key full-service boutique hotel located in the heart of downtown Denver’s Central Business District.
JLL worked on behalf of the borrower, Stout Street Hospitality, to secure a loan through PPM America, Inc.
Originally constructed in 1910 as the home of First National Bank, this iconic landmark combines historic architecture with modern sophistication and features 297 thoughtfully designed guestrooms and suites with lofty 12-foot ceilings and expansive windows. The property offers more than 13,450 square feet of flexible meeting and event space across 12 distinct venues, including the 3,800-square-foot ’17th by Magnolia’ ballroom with a stunning 25-foot-high glass atrium ceiling and art deco-inspired decor. The hotel also features Harry’s restaurant and bar serving seasonal American cuisine for three meals daily.
The Magnolia Hotel Denver is strategically positioned relative to Denver’s top demand generators, including the Colorado Convention Center, Ball Arena, Coors Field and Empower Field at Mile High. The property also benefits from proximity to the LoDo Historic District and the recently completed 16th Street Mall revitalization. The downtown location provides immediate access to major corporate offices, as well as three universities on the nearby Auraria Campus.
The historic landmark First National Bank building was converted to a boutique hotel in 1995 and now serves as Stout Street Hospitality’s flagship property with corporate headquarters located in the building.
The sponsor has continued to invest in the asset over time, including recent capital improvements completed in 2025 featuring significant guestroom renovations, upgrades to public spaces and modernization of building systems and elevators. The Denver-based, fourth-generation family business currently owns four Magnolia-branded hotels across Denver, St. Louis, Houston and Omaha. Operations are handled by CoralTree Hospitality, a Denver-based management company.
The JLL Hotels & Hospitality team was led by Managing Director Mike Huth, Senior Director Wyatt Krapf and Associate Henry Winchester.
“Stout Street Hospitality has demonstrated exceptional stewardship of the Magnolia Hotel Denver, transforming a historically significant landmark building into a distinctive boutique hotel while successfully navigating the unprecedented challenges of the COVID-19 pandemic,” Huth said. “The latest renovation positions the hotel well for strong future performance.”
