Lingerfelt CommonWealth Sells Richmond Marriott Short Pump in Richmond, VA

Press Release | Mar 2, 2017

RICHMOND, VA (March 2, 2017) – Lingerfelt CommonWealth Partners, LLC, a Richmond, Virginia-based commercial real estate investment firm, today announced the sale of the 243 room full-service Richmond Marriott Short Pump for $38.5 million. The purchaser was a partnership of regional investors.

Commonwealth Lodging Management, the company’s hotel management affiliate, will continue to operate the hotel under the new ownership. In October 2015, Commonwealth Lodging oversaw an $11+ million renovation, transforming the property into a state of the art hotel designed for today’s traveler.

ABOUT LINGERFELT COMMONWEALTH PARTNERS

Lingerfelt CommonWealth Partners, headquartered in Richmond, Va., is a vertically integrated, full-service real estate investment management firm with additional offices in Nashville, Tenn.; Jacksonville and Tampa, Fla., Greensboro, N.C.; and Hampton Roads, Va. Together with its predecessors in the private sector and public REIT sector, its partners have built, acquired and managed nearly 20 million square-feet of commercial real estate valued at approximately $2 billion across the Mid-Atlantic and Southeast. Learn more at www.lingerfeltcommonwealth.com

CONTACTS:

Kenneth S. Strickler
Managing Director – Acquisitions & Asset Management
Lingerfelt Commonwealth Partners
804-433-1809
kstrickler@lingerfeltcommonwealth.com

J. Ryan Lingerfelt
President & Chief Investment Officer
Lingerfelt Commonwealth Partners
804-270-0015
rlingerfelt@lingerfeltcommonwealth.com