NEWPORT NEWS, Virginia—Mumford Company announced completed deals to close the third quarter of 2023. In the last few weeks, the firm closed several deals representing a broad range of property types throughout the United States.
“Despite high interest rates, inflation, elevated insurance premiums, and widespread economic concerns, we were able to use our extensive database to help our clients with a successful exit,” said Steve Kirby, managing principal, Mumford Company. “Managing the nuances of the sales process, particularly in today’s challenging market, took extreme patience from all parties.”
Some of their recent transactions include:
- Tru by Hilton Rockwall Dallas, located in Rockwall, Texas
- Sleep Inn Lake Wright – Norfolk Airport, located in Norfolk, Virginia
- Quality Suites, Lake Wright – Norfolk Airport, located in Norfolk, Virginia
- The Natural Bridge Historic Hotel & Conference Center, located in Natural Bridge, Virginia
“Our extensive relationships with our sellers allow us to help them understand the process in today’s market,” said Ed James, managing principal, Mumford Company. “Deals are still getting done, and our overall pipeline looks good for the remainder of this year and into 2024.”