Mumford Company is pleased to announce they recently completed the sale of the Best Western Plus in Sweetwater Texas. Justin Pinkard, Managing Principal in the firm’s Washington D.C. office along with Ryan Patterson, Vice President in the firm’s Dallas office represented the seller, West Lone Star Ltd, in this transaction. The purchaser, Ram Ji Enterprises, LLC, plans to complete capital improvements to the property and continue to operate as a Best Western Plus.
Justin Pinkard stated, “Patience and flexibility by both the seller and buyer assisted in getting this deal completed.” Ryan Patterson added,” Debt placement was problematic but communication between all interested parties resulted in a satisfactory and timely closing. We were grateful to deliver on our goal to maximize seller proceeds while providing opportunity for the purchasers to achieve long term profitability.” This is the third Texas closing for Mumford Company in as many months.
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.
