Mumford Company Completes Sale of Econo Lodge of Bluefield, WV
Part of a multi-unit disposition
Newport News, VA - September 9, 2011 - The Mumford Company was pleased to once again represent affiliates of Allen Management in the sale of the Econo Lodge of Bluefield, West Virginia to Bina, LLC. This is the 7th transaction that Mumford Company has completed for this seller in the past 2 years and is part of an on-going, multi-unit disposition program.
The purchasers, Bina, LLC are new to the lodging industry. They plan to make renovations to the hotel and retain the Econo Lodge franchise.
With good visibility from U.S. 460, the 47-room hotel has a history of solid occupancy due to demand from local colleges, regional festivals, a nearby coal mine and Winterplace Ski Resort.
David Mumford, Ed James, and Justin Pinkard all with the company's Newport News office advised the seller in the structuring of the deal.
Mumford Company is a hotel real estate brokerage firm with a commitment to results-oriented customer service that has accomplished over 800 completed transactions in its 33-year history. 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
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