Sleep Inn & Suites


Price:
$3,500,000


Mumford Company is pleased to announce another completed transaction, Sleep Inn & Suites of Evergreen, AL. Mumford Company’s Managing Principals Steve Kirby and Ed James represented the seller, SI Hotel, LLC in the sale to KAVA, LLC. The seller was a single hotel asset owner with roots in the healthcare industry. Seller’s representative, Tom McLendon sent a note saying, “Thank you for all your help with this transaction. You made this very easy and did exactly what you said you would when we first spoke. Again, I appreciate everything you did for us.”

Kirby said, “we had a dozen tours, 6 bona fide offers with the winner including a nonrefundable deposit at contract execution. The deal closed less than 100 days from commencement of the marketing process. Great cooperation between buyer, seller, lender, franchisor and management company led to a speedy consummation. This market is ripe for sellers looking to cash out or redeploy.” The purchasing group owns other hotel assets in Alabama and the Gulf Coast states. They plan cosmetic renovations and will continue to operate as a Sleep inn & Suites.

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