Finance & DevelopmentDevelopmentMumford Company Announces Mid-Year Update With Several Deals

Mumford Company Announces Mid-Year Update With Several Deals

NEWPORT NEWS, Virginia—Mumford Company announced completed deals to close in the first half of 2022. In the last few weeks, the firm closed several deals representing a broad range of property types from the Marriott, Hilton, and IHG brands throughout the United States.

“With rising interest rates, inflation, and general economic concerns, we were able to help our clients successfully exit their properties,” said Steve Kirby, managing principal, Mumford Company. “We anticipate general market conditions remaining in flux throughout the remainder of 2022 and are positioned to help buyers and sellers manage their portfolios.

Some of their recent transactions include:

  • 98-room Courtyard by Marriott Jonesboro located in Jonesboro, Arkansas
  • 76-room Hampton Inn & Suites located in Port Arthur, Texas
  • 76-room Hampton Inn Debary/Deltona located in Debary, Florida
  • 74-room Residence Inn by Marriott Paducah located in Paducah, Kentucky
  • 51-room Holiday Inn Express & Suites Murphy located in Murphy, North Carolina
  • 95-room Econo Lodge Charleston East located in Charleston, West Virginia
  • 111-room Red Roof Inn Temple located in Temple, Texas

“Our local knowledge and extensive relationships in our markets have helped Mumford Company secure appropriate buyers for our clients,” said Ed James, managing principal, Mumford Company. “There is still a lot of capital sitting on the sidelines waiting for deal flow, and we are bullish on the remainder of 2022 and 2023.”