Address: Tupelo
City:
State: MS
ZIP:
Rooms #: 157
Additional Features:
Mumford Company, a full-service hotel advisory firm since 1978, is pleased to announce the recent sale of the Hilton Garden Inn of Tupelo, MS. This transaction was facilitated for an affiliate of Peachtree Hotel Group. This was the second transaction by Mumford on behalf of PHG in recent years. The deal required buyer assumption of a CMBS loan.
The purchaser was 363 Tupelo, LLC, an affiliate Aurora Capital, Brewer Realty and LRC2 Properties, each a multi property owner with significant hospitality holdings. The property will be operated by LRC2 Management, LLC, a regional operator with extensive experience in upper scale and boutique hotels. The new owners plan extensive renovations and will continue to operate as a Hilton Garden Inn.
Steve Kirby, Mumford’s Managing Principal in Atlanta and Ed James, Managing Principal in Newport News, represented the seller in the transaction. Kirby said, “This deal was complicated by the significant hurdles of assuming a CMBS loan. Without the perseverance and cooperation of experienced parties on both sides of the transaction, it would not have happened. It is always a pleasure when you have professionals involved.”
About Mumford Company:
Mumford Company was established in 1978 to provide top quality hotel brokerage services and has a team of brokerage professionals with broad experience in all aspects of lodging acquisitions, development, consulting and operations. They represent sellers of most major brands in markets throughout the country, and their diverse background allows them to have an awareness of key opportunities within the marketplace, so they can accurately position their client’s assets to maximize their investment results. The firm has an experienced sales team in regional offices across the country, including Newport News, Virginia; Atlanta, Georgia; Chicago, Illinois; Dallas, Texas, Washington DC, and Tampa, Florida. Their track record of success for buyers and sellers have made Mumford Company a leader for the last 41 years while upholding the values of the company from when it first began. For more information or to put the Mumford Company team to work for you, please contact Mumford at 757-873-0962, or by e-mail at sales@mumfordcompany.com
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