Mumford Announces Sale of Hampton Inn & Suites of Pigeon Forge, Tennessee
NEWPORT NEWS, VA, February 10, 2006. The Mumford Company, the Nation's Leading Broker of Mid-Market and Economy Hotels, is pleased to announce the successful sale of the Hampton Inn & Suites of Pigeon Forge, Tennessee.
The Mumford Company was once again pleased to represent BB&T in the sale of the Hampton Inn & Suites of Pigeon Forge, Tennessee to East TN Holdings, LLC. This is the third hotel that The Mumford Company has sold on behalf of BB&T, the nations' ninth largest bank holding company. This was a challenging assignment, given the complications created by the underlying ground lease and the Hampton Inn Product Improvement Plan requirements. East TN Holdings, LLC was able to surmount these challenges due to their significant presence in the regional market area and strong financial capabilities. After completion of the Hampton Inn PIP, East TN Holdings is confident that they can meet or exceed fair market share, creating solid returns for their investment group.
Please visit our web site at www.mumfordcompany.com for detailed information on any of more than 70 current exclusive listings or if we can help with the sale of your hotel property!
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