Mumford Company is representing affiliates of Daly Seven in the sale of the Holiday Inn Express of Danville, Va., to Mahant Danville. The purchaser, a regional hotel owner and operator, plans to continue the IHG affiliation after mainly cosmetic renovations.
Ed James, Steve Kirby, and Justin Pinkard, Mumford Company’s managing principals, represented the seller in the transaction. “This very well managed and maintained property has been an exceptional [revenue per available room] producer for years and its sale represents a true win-win for buyer and seller,” James said in a statement. “It was pleasure to work with skilled transition teams on both sides to navigate a complex CMBS loan process and to successfully transition management at the property level.”