RICHMOND, VA—Lingerfelt CommonWealth Partners LLC, a commercial real estate investment firm, has 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, the company oversaw an $11-million renovation.