Mumford Company Represented Virginia Community Bank in Recent Sale
Newport News, VA - September 12, 2011 - The Mumford Company represented Virginia Community Bank in the recent sale of the future Comfort Inn & Suites of Orange, Virginia to Collico, LLC.
The hotel was constructed in 2010, but not fully completed prior to takeover by the bank. The purchasers are in the process of finalizing the construction and furnishing of the facility and have plans to open the property this fall.
The 58-room property was originally planned to be a Best Western but, instead, will be franchised by Choice Hotels International and opened as a Comfort Inn & Suites. Located just north of Charlottesville, Virginia, demand will be generated by wine and history enthusiasts visiting nearby wineries, civil war battlefields, and Montpelier - home of President James Madison. Visitors to the Commonwealth Park Equestrian Center will also contribute to the properties demand.
David Mumford and Ed James 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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