Mumford Company represented a national loan servicing organization in the recent sale of the Candlewood Suites of Yorktown, Va., to Shantinath CW LLC, which plans to make extensive renovations to the hotel and retain the Candlewood Suites franchise affiliation.
David Mumford, senior principal of Mumford Company’s Newport News office, Ed James, principal also of the firm’s Newport News office, along with Steve Kirby, principal in Mumford Company’s Atlanta office, assisted the seller in completing this transaction.
"This property was very well received by the market when listed. Due to a solid location in an improving submarket, it moved quickly to contract and ultimately closing with a strong regional buyer," said James.
The 59-room hotel was built in 2002 and is located to serve a myriad of lodging demand generators on the Virginia Peninsula. The property has a three-story interior corridor design.