CBRE has facilitated the sale of two hotel properties in White River Junction, VT, to Giri Hotel Management LLC from Larkin Family Partnership for $19 million. The Holiday Inn Express & Suites and White River Inn & Suites were marketed and negotiated by CBRE’s Dave McElroy, Scott Hutchinson, and Tyler Black, who represented the seller and secured the buyer.
The 77-room Holiday Inn Express & Suites and the 110-room White River Inn & Suites are located at the intersection of Interstates 89 and 91, with proximity to Novo Nordisk, the US Corp of Engineers Cold Regions Research Laboratory, White Mountains Insurance Group, Pitney Bowes and TomTom.
“This transaction exemplifies Larkin Hospitality’s ability to creatively develop and operate successful hospitality assets as well as Giri Hotel Management’s drive to strategically grow in the region,” said McElroy. “This deal was a real win-win for both parties and speaks to the continued strength of the hospitality sector in well-located markets.”
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