Matthews™ Facilitates Sale of Hampton by Hilton in Virginia

RICHMOND, VA— Matthews™, a commercial real estate investment services and technology firm, completed the sale of the Hampton by Hilton Gretna, located at 200 McBride Lane in Gretna, Virginia. Matthews™ First Vice President Mitchell Glasson represented the seller in the $9,200,000 transaction, marking the second-highest sale for a hospitality property sold in the Virginia South Central submarket within the last year.

 

Situated off US-29, the 26,325-square-foot property benefits from a diverse mix of demand drivers, including Caesars Virginia Casino Resort, Smith Mountain Lake, Hargrave Military Academy, and Centra Gretna Medical Center. Originally built in 2008, the 81-key hotel completed a full Forever Young PIP renovation in 2021, cementing its position as the market’s premier lodging option. With the asset repositioned as a top-performing Hampton by Hilton, the seller, Nirav Mehta, Dhru Shah, and partners, elected to bring the property to market as part of a capital restructuring among investors.

 

With a hyperspecialization in the Mid-Atlantic market, Matthews™ created a competitive bidding environment, producing nine offers, ultimately securing a hospitality investor completing a 1031 exchange. The buyer, looking to diversify their portfolio of Choice and Wyndham properties with a Hilton-flagged asset, submitted a nonrefundable deposit subject to franchise approval, and proactively initiated the change-of-ownership PIP prior to PSA execution. The Matthews™ agent navigated a complex financing process, diligently facilitating appraisal and loan approval, maintaining close communication with both parties to bring the transaction to a successful close.

 

“Our seller built real value by flagging and renovating this asset, and we were able to deliver the right buyer who recognized that value and moved decisively to secure it,” Glasson said. “This transaction is a testament to what deep market expertise, buyer conviction, and diligent execution can deliver for our clients.”

 

For more information, please contact Mitchell Glasson or visit www.matthews.com.

 

About Matthews™

Matthews™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 30 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.