Mumford Company has brokered the sale of the Country Inn & Suites by Radisson, Concord (Kannapolis), NC. The transaction was facilitated for Chance Atlantic Hospitality LLC to ICARE Hospitality of Concord LLC.
Managing Principals Steve Kirby, Ed James and Justin Pinkard, along with Lillian Walker, sales associate in the newly opened Philadelphia office, represented the Thailand-based seller in the disposition of its sole U.S. asset. The purchasers, based in the Carolinas, are multi-asset owners and operators.
This is the fifth transaction between Mumford Company and members of the buyer group. The purchasers plan to complete extensive renovations and reposition the asset as a Comfort Inn and Suites.
“It was a privilege to represent our sellers on this deal,” said Kirby. “The professionalism of the buyers made the process significantly less cumbersome, and our previous experience with them was one of the reasons why the sellers agreed to transact with this group. Repeat business is the best business.”
