Mumford Co. brokers sale of Days Inn Hotel in Wytheville
Mumford Co. in Newport News represented 150 Malin Associates LP in the sale of the Days Inn of Wytheville to Amisha LLC for an undisclosed price. According to a press release from Mumford, the buyer is a regional hotel owner and operator who plans to keep the property in the Days Inn family following cosmetic renovations.
Ed James, a principal for Mumford, represented the seller, a Virginia-based real estate developer with holdings in hotels and other commercial real estate. James said in a statement that the deal represented a “win-win situation,” because it allowed the seller to redeploy capital from some of its older hotel assets into other classes of commercial real estate. “The purchaser got a great piece of real estate well below replacement cost …” he said.
The property is located at the intersection of Interstates 77 and 81 in Southwest Virginia.