RICHMOND—Lingerfelt CommonWealth Partners hasacquired the 242-room Richmond Marriott West hotelin Glen Allen, an affluent submarket in this area. The purchaseprice was not announced and has not been recorded yet.

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CommonWealth Lodging, an affiliate ofLingerfelt CommonWealth Partners, has entered into a franchiseagreement with Marriott to manage the hotel and oversee arenovation of its Greatroom lobby concept and guest rooms. Thehotel will remain open during the construction, which will deliverin summer 2015, after starting in the fall.

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The hotel is located within Innsbrook Corporate Center,mixed-use park in the city that consists of more than 8 millionsquare feet of office and retail space and multi-family housing.Richmond Marriott West is the only full-service hotel in the officepark. It key customers, not surprisingly, are corporates includingCapital One, Markel, Altria, Wells Fargo and the University ofRichmond.

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Edward C. Denton, CommonWealth Lodging's EVPsays the company hopes to collaborate with these customers in therenovation.

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Lingerfelt CommonWealth Partners, which is also headquarteredwithin the Innsbrook Corporate Center, owns approximatelyone-million square feet of office space.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.