Mumford Company Closes on Morgantown, WV Hotel
January 20, 2010 Mumford Company was pleased to once again represent affiliates of Super 8 Motel Developers in the sale of the Super 8 Motel of Morgantown, West Virginia to AnamiHotels, LLC. This was the 14th hotel that Mumford Company has sold on behalf of this organization over the past decade.
The Morgantown property is a very strong performer and in good physical condition. The purchasers, who are multi-unit operators in this region, plan to make cosmetic renovations to the hotel and continue its' strong operating performance. Financing was provided in part through the newly expanded USDA B&I loan program. David Mumford, Ed James and Justin Pinkard of the Mumford Company's Newport News office facilitated the transaction on behalf of the seller.
An excellent interstate location with easy access to both I-68 & I-79 provides this 58 room hotel with interstate travelers and a number of other demand generators including West Virginia University and its' activities. The property is also located within the Pittsburg Tri-state MSA expanding its' potential reach outside of Morgantown.
Mumford Company's commitment to results-oriented customer service has yielded outstanding client results for over 32 years. With its' experienced sales team in four regional offices across the country, Mumford Company is a leader in the sale of mid-market and economy hotels. For more information contact Mumford Company at (757) 873-0962.
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