Mumford Company was pleased to represent a national loan servicing organization in the recent sale of the Candlewood Suites of Yorktown, Virginia to Shantinath CW LLC. The principals of Shantinath have extensive hotel holdings in Virginia and have purchased five hotels through Mumford over the last several years. They plan to make extensive renovations to the hotel and retain the Candlewood Suites franchise affiliation.
David Mumford, Senior Principal of Mumford Company’s Newport News office, Ed James, Principal also of the firm’s Newport News office, along with Steve Kirby, Principal in Mumford Company’s Atlanta office assisted the Seller in completing this transaction in just in 7 months from listing. Ed James states “this property was very well received by the market when listed. Due to a solid location in an improving submarket, it moved quickly to contract and ultimately closing with a strong regional buyer”
This 59 room hotel was built in 2002 and is strategically located to serve a myriad of lodging demand generators on the Virginia Peninsula. The property has a 3-story interior corridor design and boasts amenities such as the Candlewood Cupboard, a business center, meeting room, recreational courtyard and outdoor pool.
Mumford Company is a hotel real estate brokerage firm with a commitment to results-oriented customer service that has accomplished over 890 completed transactions in its 35-year history. With its' experienced sales team in five regional offices across the country, including the company's newly opened Washington DC office, Mumford Company is a leader in the sale of mid-market and economy hotels. For more information contact Mumford Company at (757) 873-0962.