WHITE RIVER JUNCTION, VT. — CBRE has brokered the $19 million sale of two adjacent hotels in White River Junction, located along the Vermont-New Hampshire border. The 77-room Holiday Inn Express & Suites and the 110-room White River Inn & Suites are both located at the intersection of Interstates 89 and 91. The Larkin Family Partnership sold the properties to Giri Hotel Management LLC. Dave McElroy, Scott Hutchinson and Tyler Black of CBRE brokered the deal on behalf of both parties.
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HOUSTON — Versal, a self-storage brokerage firm with offices in Austin and Los Angeles, has arranged the sale of A&B Boat & RV Storage, a 279-unit facility located approximately 14 miles southeast of downtown Houston. The facility spans 121,328 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, California-based Sunbelt Storage II, in the transaction. The team also procured the buyer, Dallas-based RecNation.
BOSTON — Newmark has arranged the sale of 179 Lincoln Street, a 221,474-square-foot office building near downtown Boston. The newly renovated building offers proximity to Boston’s South Station transit hub. Robert Griffin, Edward Maher, David Douvadjian Sr., Matthew Pullen, James Tribble, Timothy O’Donnell, Samantha Hallowell and William Sleeper of Newmark represented the undisclosed seller in the transaction. The team also procured the buyer, locally based investment firm Synergy, which assumed $76.5 million of the seller’s outstanding debt on the property.
NEW YORK CITY — Locally based development and investment firm Fetner Properties has sold its remaining interest in a 30-story apartment tower located at 345 E. 94th St. on Manhattan’s Upper East Side. The percentage and sales price were not disclosed. The building houses 208 units in studio, one- and two-bedroom formats and 4,000 square feet of commercial space. Empire State Realty Trust (NYSE: ESRT), which previously bought a stake in the building in late 2021, now owns the property outright.
NEW YORK CITY — Locally based development and investment firm Fetner Properties has sold its remaining interest in The Victory, a 45-story apartment tower located at 561 10th Ave. in Manhattan’s Hell’s Kitchen neighborhood. The percentage and sales price were not disclosed. The building houses 417 units in studio, one- and two-bedroom formats and 12,000 square feet of commercial space. Empire State Realty Trust (NYSE: ESRT), which previously bought a majority stake in The Victory in late 2021, now owns the building outright.
SHERMAN, TEXAS — GREA, a multifamily brokerage firm with a dozen offices around the country, has negotiated the sale of Hilltop Village, a 248-unit affordable housing property in the North Texas city of Sherman. According to Apartments.com, Hilltop Village was built in 1969 and offers one-, two- and three-bedroom units. Residences are reserved for households earning 80 percent or less of the area median income. Amenities include a playground, volleyball court and outdoor grilling and dining stations. Mark Allen led the GREA team that brokered the deal. The seller was not disclosed. The buyer, Brazos Residential, plans to invest about $11 million in capital improvements to the property.
GEORGETOWN, TEXAS — Philadelphia-based investment firm EQT Exeter has acquired a 449,642-square-foot industrial building in the northern Austin suburb of Georgetown that is fully leased on a long-term basis to solar panel manufacturer CAF Energy. The sales price was $60.9 million. Located at 110 SE Inner Loop Road, the building was completed in 2023 and features 106 loading doors, 36-foot clear heights and parking for 123 trailers and more than 500 cars. At full operation, CAF Energy expects to employ more than 240 people at the facility.
DALLAS — Atlanta-based REIT Piedmont Office Realty Trust has sold One Lincoln Park, an approximately 257,000-square-foot building in North Dallas. The 10-story building, which was constructed in 1999, was 59 percent leased at the end of 2023. Amenities include a fitness center, conference facilities, tenant lounge and grab-and-go food service. A financial institution, which the Dallas Morning News reports is Triumph Financial, purchased One Lincoln Park in an all-cash deal and plans to use the building as its new headquarters.
KINGWOOD, TEXAS — Colorado-based investment firm InterUrban Cos. has sold Woodland Hills Village, a 260-unit apartment complex in Kingwood, a master-planned development located north of Houston. The property offers one-, two- and three-bedroom units to go with a pool and fitness center. Kyle Whitney, Chris Young, Joey Rippel, Jeffrey Skipworth and Chris Curry of Berkadia represented InterUrban Cos. in the transaction. The buyer, an undisclosed Dallas-based investment firm, plans to implement a value-add program. The sales price was not disclosed.
SUGAR LAND, TEXAS — JLL has brokered the sale of The Offices at Kensington, a 171,055-square-foot office complex located in the southwestern Houston suburb of Sugar Land. The complex consists of two four-story buildings that had a combined occupancy rate of 84 percent at the time of sale. Rick Goings and Marty Hogan of JLL represented the seller, California-based investment firm Buchanan Street Partners, in the transaction. Michael Johnson and Michael King, also with JLL, arranged an undisclosed amount of fixed-rate acquisition financing on behalf of the buyer, Houston-based private equity firm DML Capital.
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