Adam Fenton – NARRATE Holdings

For Adam Fenton, founding NARRATE HOLDINGS in 2019 wasn’t just about building properties but about telling a different story. With a background in finance and real estate from the University of Northern Iowa, and a decade spent as an asset and development manager, including nearly four years as senior VP of development at BMC Investments, Fenton launched NARRATE to create community-centered spaces that prioritize design, functionality, and impact.

“Our goal was to create a firm that didn’t just add buildings to a skyline but contributed to neighborhoods in a meaningful way,” Fenton says. “We’re deeply focused on the human experience—on the residents who live there and the surrounding communities.”

This philosophy is evident in NARRATE’s real estate portfolio, which includes a thoughtful mix of ground-up developments, adaptive reuse properties, and value-add assets. Projects typically range from 70 to 125 units, striking a balance between boutique charm and investment scale. NARRATE is intentionally nimble, capable of pursuing smaller deals overlooked by institutional developers while maintaining the infrastructure and processes needed for much larger developments.

Based in Denver, Colorado, NARRATE HOLDINGS is a boutique real estate development and private equity firm specializing in urban-infill multifamily and mixed-use projects throughout the Western U.S. The firm is known for its patient, design-focused approach to development and for creating lasting value through real estate and private equity investments. Its real estate arm focuses on community-oriented development. In contrast, NARRATE VENTURES’s private equity arm pursues diverse, industry-agnostic investments to support business growth and customer-centric service.

Expanding the blueprint

One such project, The Aston, embodies NARRATE’s vision. Completed in 2023, The Aston was the company’s first full construction endeavor. With 73 residential units and 8,000 square feet of retail space on Denver’s popular South Pearl Street, the project activated an underused urban lot. It earned a Mayor’s Design Award for its architectural excellence.

“The Aston is still our trophy property,” Fenton says. “It was a test of our capabilities and set the bar for everything we do.”

Today, NARRATE has more than half a dozen projects in its pipeline, including a 120-unit multifamily development near the University of Colorado Colorado Springs and a transformative $200 million soft-branded hotel and multifamily concept in the same city. As the firm grows, Fenton remains focused on maintaining the cultural DNA that’s made NARRATE successful: intentional design, disciplined investment strategy, and long-term neighborhood value.

“We’re always looking at how a project fits into its surroundings,” Fenton says. “Are we solving a housing need? Are we complementing the local fabric? We’re not here to disrupt—we’re here to integrate and improve.”

Key to NARRATE’s growth is the firm’s ability to partner effectively with architects, capital providers, city planners, and community stakeholders. That collaborative spirit extends to Managing Partner Zack Kobilica, who shares in strategic leadership and business development efforts. Fenton and Kobilica have created an environment where adaptability and innovation are the norm.

That same mindset has helped NARRATE secure funding and debt for both boutique and large-scale developments.

“What sets us apart is our ability to be flexible and professional,” Fenton explains. “We can navigate small, overlooked deals with agility, but we also bring the experience and structure needed for large capital projects.”

Beyond real estate

While NARRATE has earned a strong reputation in Denver’s competitive real estate landscape, the company’s ambitions extend far beyond buildings. Through its private equity arm, NARRATE VENTURES, Fenton and his team are investing in a range of businesses that align with their values of long-term growth and customer-focused service.

“We didn’t want to be just another real estate firm,” Fenton says. “NARRATE VENTURES allows us to partner with founders in other industries who share our commitment to quality and innovation.”

The private equity team takes an industry-agnostic approach but follows a disciplined investment thesis emphasizing downside risk mitigation and enduring value. Its flagship investment, Lava Island—a leading indoor amusement park concept—is already expanding nationally with backing from NARRATE. With plans to open more than 20 new locations, the partnership exemplifies NARRATE’s appetite for scalable, high-impact ventures.

“Lava Island represents exactly what we’re looking for in a partner: a differentiated brand, strong unit economics, and a clear growth trajectory,” says Fenton. “Our role is to provide capital and strategic guidance while helping the team expand without compromising their vision.”

This expansion into private equity is more than a diversification strategy—it’s an extension of the company’s core ethos. Whether it’s a housing development in Colorado Springs or an amusement park across the country, every investment NARRATE makes is tied to enhancing lives and building something that lasts.

As NARRATE approaches its sixth year, the team remains focused on building a legacy of excellence shaped by patience, creativity, and collaboration. With a growing staff, active pipeline, and a flourishing private equity platform, the firm is well-positioned to scale its impact across the Western U.S. and beyond.

And for Fenton, that journey is just getting started.

“At the end of the day, we’re not just developing real estate or investing in companies—we’re helping shape the communities we live in,” he says. “That’s the story we want to tell, and it’s one we’re proud to write, project by project.”