Lingerfelt CommonWealth Partners, LLC, a Richmond, Virginia-based commercial real estate investment firm, sold 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 the today's traveler.
Lingerfelt CommonWealth Partners, headquartered in Richmond, VA, is a vertically integrated, full service real estate investment management firm with additional offices in Charlotte, NC, Greensboro, NC, Greenville, SC, Hampton Roads, VA, Jacksonville, FL, Nashville TN, Raleigh, NC, Reading, PA, and Tampa, FL. 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.