Address: Pikeville
City:
State: KY
ZIP:
Rooms #:
Additional Features:
The Mumford Company was pleased to advise Musselman Hotels in the recent disposition of the Days Inn of Pikeville, KY. Steve Kirby, of Mumford’s Atlanta office, and Tom Sommer, of the firm’s Chicago office, represented the seller, a Louisville based multi property developer and management company owner.
The property was ultimately transferred to Pikeville College after determining that highest and best use of the facility was student housing. This was the third hotel transaction handled by Mumford Company for Musselman Hotels. Kirby says, “The age of the structure and the cumbersome land lease, encompassing three separate parcels, made the economics of a lodging operation unfeasible for a new owner. We ultimately determined that it was in the seller’s best interest to convey the property to a non-traditional user that could utilize the asset to better the local community”.
Celebrating their 30th anniversary in 2008, the Mumford Company is a proven leader in the field of hotel real estate brokerage. The firm’s commitment to results-oriented customer service has yielded outstanding client results year after year. As a specialist in mid-market assets, Mumford Company has structured the sale of hundreds of hotels in the past five years alone, representing a wide array of owners and investors. For more information or to view current listings, please visit our Exclusive Listings Page for detailed information on any of our exclusive listings or contact (757) 873-0962.
