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 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.”
