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Paula C. Squires// July 7, 2013//
Mumford Co. in Newport News represented 150 Malin Associates LP in the sale of the Days Inn of Wytheville to Amisha LLC for an undisclosed price. According to a press release from Mumford, the buyer is a regional hotel owner and operator who plans to keep the property in the Days Inn family following cosmetic renovations.
Ed James, a principal for Mumford, represented the seller, a Virginia-based real estate developer with holdings in hotels and other commercial real estate. James said in a statement that the deal represented a “win-win situation,” because it allowed the seller to redeploy capital from some of its older hotel assets into other classes of commercial real estate. “The purchaser got a great piece of real estate well below replacement cost …” he said.
The property is located at the intersection of Interstates 77 and 81 in Southwest Virginia.
