Lingerfelt CommonWealth Sells Richmond Marriott Short Pump in Richmond, VA
RICHMOND, VA. March 8, 2017 - Lingerfelt CommonWealth Partners, LLC, a Richmond, Virginia-based commercial real estate investment firm, today announced the sale of the 243 room full-service Richmond Marriott Short Pump for $38.5 million. The purchaser was a partnership of regional investors.
Commonwealth Lodging Management, the company's hotel management affiliate, will continue to operate the hotel under the new ownership. In October 2015, Commonwealth Lodging oversaw an $11+ million renovation, transforming the property into a state of the art hotel designed for the today's traveler.
More on the company can be found on the web at www.LingerfeltCommonWealth.com.
About Lingerfelt CommonWealth Partners
Lingerfelt CommonWealth Partners, headquartered in Richmond, VA, is a vertically integrated, full service real estate investment management firm with additional offices in Charlotte, NC, Greensboro, NC, Greenville, SC, Hampton Roads, VA, Jacksonville, FL, Nashville TN, Raleigh, NC, Reading, PA, and Tampa, FL. Together with its predecessors in the private sector and public REIT sector, its partners have built, acquired and managed nearly 20 million square feet of commercial real estate valued at approximately $2 billion across the Mid-Atlantic and Southeast. Learn more at www.lingerfeltcommonwealth.com.
About Marriott
With more than 500 hotels and resorts in nearly 50 countries around the world, Marriott Hotels is evolving travel through every aspect of the guest's stay, enabling the next generation to Travel Brilliantly. Boldly transforming itself for mobile and global travelers who blend work and play, Marriott leads the industry with innovations, including the Greatroom, Future of Meetings and Mobile Guest Services that elevates style & design and technology. All Marriott hotels participate in the award winning Marriott Rewards frequent travel program that allows members to earn hotel points or airline miles for every dollar spent during each stay. For more information, visit www.MarriottHotels.com. Visit Marriott International, Inc. (NASDAQ: MAR) for company information. For more information or reservations, please visit our web site at www.marriott.com.
CONTACT:
Kenneth S. Strickler
Managing Director, Acquisitions & Asset Management
Lingerfelt Commonwealth Partners
kstrickler@lingerfeltcommonwealth.com
804-433-1809
J. Ryan Lingerfelt
President & Chief Investment Officer
Lingerfelt Commonwealth Partners
rlingerfelt@lingerfeltcommonwealth.com
804-270-0015
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
