Mumford Advances Strategy on Behalf of Eastern Lodging with sSale of Super 8 in College Park, MD
Newport News, VA - October 28, 2011 - The Mumford Company once again represented Eastern Lodging, Inc. in the recent sale of the leasehold interest in the Super 8 Motel of College Park, Maryland to JK Lodging, LLC.
This is the 20th transaction that Mumford Company has structured on behalf of Eastern Lodging and its' affiliates as a part of their long-term disposition strategy. Year to date, including this sale, Mumford Company has completed 32 hotel transactions representing over 3000 hotel rooms, in 11 states throughout the U.S.
The purchasers are a local investment group with a sizeable presence in the metro Washington, D.C. lodging market. They plan to make cosmetic renovations to the hotel and retain the Super 8 franchise.
The 51-room hotel is easily accessible from Interstate 495 and a short distance to the University of Maryland and Walter Reed Medical Center. Additionally, the property is geographically well placed to draw from the vast business and tourist demands of the greater Washington, DC market area.
David Mumford and Justin Pinkard 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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