Address: 1 Gateway Boulevard East
City: Savannah
State: GA
ZIP: 31419
Rooms #: 120
Additional Features:
Mumford Company was pleased to have represented First Florence Corporation in the sale of the Best Western of Savannah, Georgia to Double S Hotel Ventures Savannah, LLC. The purchasers plan to complete renovations and continue to operate the property as a Best Western.
Ed James, Principal in Mumford Company’s Newport News office along with Steve Kirby, Principal in the firm’s Atlanta office and Justin Pinkard, Vice President in the firm’s Washington, D.C. office represented the seller and worked diligently to bring this transaction to a successful close. Ed James states “This transaction continues the disposition plan for non-core hospitality assets for the Seller. The purchaser was able to complete its first hotel acquisition in the highly desirable Savannah Georgia market at a price well below replacement cost with plenty of upside potential through renovations and management enhancements”.
Located in Savannah on I95 at exit 94, this 120 unit hotel was built in 1971 and features a 2 story exterior corridor building with continental breakfast, meeting space, business center and a recreational courtyard with pool. Regional demand generators include Armstrong Atlantic University, Hunter Army Air Field, Savannah International Airport, Fort Stewart, Historic Savannah and the Savannah College of Art and Design.
Mumford Company is a hotel real estate brokerage firm with a commitment to results-oriented customer service that has accomplished over 900 completed transactions in its 36-year history. With its’ experienced sales team in five regional offices across the country, including the company’s newly opened Washington DC office, Mumford Company is a leader in the sale of mid-market and economy hotels. For more information contact Mumford Company at (757) 873-0962.
