Mumford Rounds Out 2011 with Nashville, Tennessee Baymont Inn & Suites
38th transaction for the year
Newport News, VA - January 16, 2012 - Mumford Company is pleased to announce the completion of its 38th transaction of 2011, the Baymont Inn & Suites of Nashville, Tennessee.
The seller was a major institutional owner of mid-market hotels and the purchaser was a regional, multi-property owner, and operator. The property was subject to a long-term land lease.
The purchaser plans to complete cosmetic renovations and retain the Baymont Inn franchise. This property generated significant buyer interest, multiple offers and the transaction was completed in 127 days from the date of listing.
Located in Nashville, Tennessee, home to 1.6 million people and the 4th largest MSA in the southeast, the 115-room, 3-story property is in good physical condition. The hotel is minutes from Nashville Airport and approximately 4 miles to downtown Nashville and The Grand Ole Opry. Vanderbilt University and the Tennessee State Fairgrounds are just a short distance as well.
David Mumford with the company's Newport News office and Steve Kirby with the company's Atlanta 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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