NEWPORT NEWS, Virginia—Mumford Company announced the completion of an off-market transaction with the closing of the Savannah Suites Atlanta Airport. The property, built in 2020, has 94 extended stay guest suites and is positioned in the airport market.
Steve Kirby and Ed James, two of the firm’s managing principals, represented the seller, an Atlanta-based real estate developer. The purchaser was an affiliate of Wichita, Kansas-based TGC Group. TGC Group is a multi-unit extended stay owner and operator with holdings across 19 states. The purchasers plan major renovations and will rebrand the hotel.
Kirby said, “It was a pleasure working with the buyer and seller to put this deal together. The diligence and focus by the parties were crucial in overcoming some macro market headwinds.”
