Star Equity Holdings, Inc. announced on November 9, 2026, that its wholly owned subsidiary, 106 Bremer Avenue, LLC, has entered into a Purchase and Sale Agreement with DWG Capital Partners, LLC. The agreement, referred to as the Colfax Purchase Agreement, outlines the sale of the subsidiary's real property located at 106 Bremer Avenue in Colfax, Wisconsin.
Under the terms of the agreement, the property is set to be sold for a purchase price of $5.2 million. The transaction is subject to customary closing conditions, including the satisfaction of title and insurance commitments, a satisfactory survey review, environmental condition review, and the Buyer's ability to obtain appropriate financing. The closing is scheduled to occur within 30 days after the expiration of the due diligence period, with provisions allowing for extensions of up to 30 days for each party and an additional 15 days for DWG.
Simultaneously with the sale, Timber Technologies Solutions Inc., a subsidiary of Star Equity Holdings and the current occupant of the premises, will execute a commercial single-tenant triple net lease with DWG. This lease will allow Timber Technologies to remain in the Colfax Premises for a term commencing upon execution and ending on the 20th annual anniversary of the lease, unless terminated or extended for two renewal periods of 10 years each. Timber Technologies will be responsible for insurance, maintenance, utilities, taxes, and other associated expenses under the absolute net lease structure.
The Company has agreed to guarantee the obligations of Timber Technologies under the Lease Agreement. Star Equity Holdings anticipates that the closing of the Colfax Purchase Agreement, including the execution of the Lease Agreement, will occur in the fourth calendar quarter of 2026. However, the Company notes that closing may occur after this quarter due to the specified contingencies and extension rights.
