Mumford Company Represents BB&T Bank in Sale of Valdosta, GA Travelodge
Newport News, VA - September 29, 2011 - Mumford Company was pleased to represent BB&T Bank of Winston-Salem, North Carolina in the disposition of the Travelodge Hotel in Valdosta, Georgia. The sale of this lender-owned property was completed in less than 110 days from the date of listing.
The purchaser, Williams Investment Company, is a regional, multi-unit operator of hotels and other real estate interests in the market. This acquisition was an opportunity for a creative buyer to acquire direct interstate frontage and complement their existing hospitality holdings in the market.
Valdosta is a natural stopping point for I-75 travelers bound for Florida. The Travelodge is located adjacent to I-75 with high visibility and easy access. The 137-room, 3-story hotel sits on 4 acres of land and offers meeting facilities, a ballroom, and other guest amenities. Moody Air Force Base, Valdosta State University, as well as local tourism attractions and a nearby industrial park create demand for the property.
David Mumford with the company's Newport News office and Burton Brooks with the firms' Atlanta, Georgia 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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