Americas Best Value Inn


Price:
$875,000


Mumford Company, a full-service hotel advisory firm since 1978, was pleased to represent Surbhi Properties, LLC in the sale of the Americas Best Value Inn of Ullin, Illinois. The purchaser, IAH Hotels, LLC. is from North Carolina and was searching in multiple states for an interior corridor hotel within his budget. The hotel will retain its Americas Best Value Inn franchise, allowing the Buyer as a first-time owner to enter into the franchise hotel industry. George Arvanitis, Managing Director - Midwest of the firms Chicago office, represented the Seller in this transaction.

 

George Arvanitis states, “The Seller was in his first 1031 exchange and the transaction had to close before March 30th, 2021. Since the Seller was affecting a 1031 exchange and closing on a new property April 1, 2021, all original deadlines without any extensions had to be met. The transaction closed 5 days earlier then the closing date in the Purchase and Sale Agreement”.

About Mumford Company:

Mumford Company was established in 1978 to provide top quality hotel brokerage services and has a team of brokerage professionals with broad experience in all aspects of lodging acquisitions, development, consulting and operations. They represent sellers of most major brands in markets throughout the country, and their diverse background allows them to have an awareness of key opportunities within the marketplace, so they can accurately position their client's assets to maximize their investment results. The firm has an experienced sales team in regional offices across the country, including Newport News, Virginia; Atlanta, Georgia; Chicago, Illinois; Dallas, Texas and Washington DC. Their track record of success for buyers and sellers have made Mumford Company a leader for the last 41 years while upholding the values of the company from when it first began. For more information or to put the Mumford Company team to work for you, please contact Mumford at 757-873-0962, or by e-mail at sales@mumfordcompany.com