A former Market Street hotel property, which now houses 230 apartments, changed hands earlier this month in a $17.6 million deal.
Vivo Investment Group purchased the former Budgetel Inn and Motel 6 and the surrounding nearly eight acres at 4903 Market St. in late 2021 for $11 million. A deed recorded on June 18 shows COW Wilmington LLC purchased the property from Vivo Living Wilmington LLC for just over $17.6 million.
The purchasing entity was established in May, according to a filing with the North Carolina Secretary of State, and lists its principal office address as 2002 Coffee Pot Blvd. NE in St. Petersburg, Florida…