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KHP will continue to acquire hotels that can benefit from enhanced branding and management, renovation and reposition hotels in need of capital, and adaptive reuse of historic buildings.
The 93-unit Vincent's Village community will be developed by the Sisters of Charity Housing Development Corp. of Staten Island and Rockabill Development, LLC of New York City.
Columbia Property Trust completed a significant repositioning of the campus in advance of the sale. Those efforts helped drive 460,000 square feet of leasing at the property since early 2017, replacing the original anchor tenant with no downtime and returning the full property to 100% leased.