NEWPORT NEWS, Virginia—Mumford Company, a full-service hotel advisory firm since 1978, was pleased to announce the closed short sale of the Canton, Ohio, Quality Inn. Mumford’s George Arvanitis (Chicago), Ed James (Newport News), and Steve Kirby (Atlanta) represented the seller, a single asset owner, in the transaction. The deal closed just five months from the listing date. The purchasing group, a partnership of Ohio and southeast-based partners, plans to complete substantial renovations and continue to operate under the Quality Inn brand.
This was Mumford’s third transaction with this buyer group; on the previous two occasions, they were the sellers. Kirby said, “It was a pleasure to work with all parties in the transaction. Repeat business from our clients is our best advertising.”