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RICHMOND, VA-An affiliate of the Blackstone Group has sold a Wyndham-flagged hotel here for $10.5 million to RMS Airport Hotel LLC, an affiliate of Sandhu Management & Investments. Tom Hamm of Sperry Van Ness in Stamford, CT and David Butchello of Sperry Van Ness’ Williamsburg, VA office represented the buyer and seller. Sperry Van Ness did not respond in time to deadline.

Located at 4700 S. Laburnum Ave., the hotel is a non-core holding of the Wyndham portfolio that Blackstone acquired in 2005 for $3.24 billion–one of the many public-to-private transactions the firm has closed over the last several years. The buyers will retain the Wyndham Hotel flag.

The sales price of $10.5 million includes planned renovations and upgrades, according to the brokerage firm. The 155-key hotel–called Wyndham Richmond Airport–was built in 1985 and renovated several times since then. It is located off I-64, two miles from the Richmond International Airport terminal and 12 miles from downtown Richmond.

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