Mumford Company Completes 2nd Woodbridge, Virginia Hotel Sale
Rodeway Inn in Woodbridge, Virginia makes 37th hotel transaction for Mumford Company in 2011
Newport News, VA - January 4, 2012 - The Mumford Company was pleased to once again represent affiliates of Allen Management in the recent sale of the Rodeway Inn of Woodbridge, Virginia to Niramay VA, LLC.
This is the 10th transaction that Mumford has facilitated on behalf of the sellers in the past 2 years and is the 3nd property that the purchasers have acquired through Mumford in the same period.
The property was purchased by Niramay VA, LLC, a regional developer, and operator of 5 mid-market hotels in the Mid-Atlantic of the United States. The purchaser plans to make renovations to the hotel and retain the Rodeway Inn affiliation.
Situated just off Interstate 95, just outside of Washington, D.C., the 39 room, 2-building; property utilizes strong demand from nearby Quantico Marine Base, the FBI Academy, as well as Potomac Mills Outlet Mall. The vast historic, cultural and tourism draws of Washington, D.C. provide additional demand for the property.
David Mumford, Ed James, 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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