The Cambria Hotel in Mount Pleasant, SC, was sold by an affiliate of Raines Company in a deal brokered by Mumford Company.
The hotel was purchased by the Kramedas family, a Delaware-based multi-unit hotel owner and operator with plans to retain the existing Cambria branding. Mumford aided the purchaser in identifying and executing a 1031 exchange. This represented the second sale by Newport News, Va.-based Mumford on Raines’ behalf.
Steve Kirby, Ed James and Justin Pinkard, Mumford Company principals, and John James, sales associate in the company’s Charleston office, represented the seller in the transaction.
“It’s always a pleasure to work with Raines due to their professionalism throughout the process,” Kirby said in a statement.