Finance & DevelopmentFinanceMumford Company Announces Sale of Courtyard by Marriott in Cayce, South Carolina

Mumford Company Announces Sale of Courtyard by Marriott in Cayce, South Carolina

NEWPORT NEWS, Virginia—Mumford Company represented an affiliate of Raines Co. in the recent sale of the Courtyard by Marriott in the Columbia suburb, Cayce, South Carolina. Raines Co.—a multi-unit lodging and resort developer, owner, and operator—will continue to manage the property in a short-term arrangement. Steve Kirby and Ed James, Mumford Company managing principals, represented the seller in the transaction.

The purchaser was an affiliate of Charlotte-based ABC Investments and Management Co., Inc. ABC Investments is a multi-disciplined real estate developer, owner, and operator with a primary focus on the lodging industry, with multiple assets in the Carolinas. The 2018 built structure was in excellent condition and purchasers plan cosmetic renovations for continued operations as a Courtyard by Marriott.

“We are pleased to see this project through its lifecycle from site acquisition and ground-up development, to successful operations and then disposition. A big congratulations to the buyer and kudos to Mumford for the excellent guidance and service during this seamless transaction.” Grey Raines, partner of Raines Co.

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