Destin, FL – The Mumford Company was pleased to represent Gulf Coast Lodging I, Inc. in the sale of the Sleep Inn of Destin, FL to Vivek & Jay Corporation recently.
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Sleep Inn Destin, Florida |
The 77-unit property is located within walking distance of the beaches of the Gulf of Mexico.
The new owners intend to complete cosmetic renovations and maintain the Sleep Inn franchise.
According to Steve Kirby, Principal in Mumford's Atlanta office, "the difficulties in the current
lending environment and very strict underwriting of this acquisition were overcome by the diligenceand determination of seller, buyer, lender, franchiser and broker. All parties maintained a solidcommitment to get the deal finalized despite the overall economic and financial headwinds currently in play."
This deal was Mumford's 15th closing for 2009
With over 30 years of experience in Hotel Brokerage, Mumford Company’s commitment to
results-oriented customer service has yielded outstanding client results year after year. As a
specialist in mid-market assets, Mumford Company has structured the sale of hundreds of hotels in the past five years alone, representing a wide array of owners and investors.
For more information or to view current listings, please visit www.mumfordcompany.com or contact (757) 873-0962.