{"id":1004804766,"date":"2026-07-08T06:17:43","date_gmt":"2026-07-08T14:17:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004804766"},"modified":"2026-07-08T06:17:45","modified_gmt":"2026-07-08T14:17:45","slug":"ascendant-capital-partners-acquires-eight-hotel-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ascendant-capital-partners-acquires-eight-hotel-portfolio\/","title":{"rendered":"Ascendant Capital Partners Acquires Eight-Hotel Portfolio"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a4e78e846506&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-large is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"844\" height=\"416\" data-attachment-id=\"1004804768\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ascendant-capital-partners-acquires-eight-hotel-portfolio\/residence-inn-by-marriott-virginia-beach-town-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Residence-Inn-by-Marriott-Virginia-Beach-Town-Center.jpg\" data-orig-size=\"844,416\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Residence Inn by Marriott Virginia Beach Town Center\" data-image-description=\"&lt;p&gt;Image emailed from Ascendant Capital Partners.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The Residence Inn by Marriott Virginia Beach Town Center is among the properties included in the sale. Image courtesy of Ascendant Capital Partners.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Residence-Inn-by-Marriott-Virginia-Beach-Town-Center.jpg?w=844\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Residence-Inn-by-Marriott-Virginia-Beach-Town-Center.jpg?w=844\" alt=\"A photo of the Residence Inn Virginia Beach Town Center.\" class=\"wp-image-1004804768\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Residence-Inn-by-Marriott-Virginia-Beach-Town-Center.jpg 844w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Residence-Inn-by-Marriott-Virginia-Beach-Town-Center.jpg?resize=300,148 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Residence-Inn-by-Marriott-Virginia-Beach-Town-Center.jpg?resize=768,379 768w\" sizes=\"auto, (max-width: 844px) 100vw, 844px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The Residence Inn by Marriott Virginia Beach Town Center is among the properties included in the sale.<em> Image courtesy of Ascendant Capital Partners.<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Ascendant Capital Partners has acquired an eight-hotel, 965-key portfolio from Coastal Hospitality Associates LLC. A price for the transaction was not disclosed.<\/p>\n\n\n\n<p>The portfolio comprises predominantly beachfront rooms across six hotels in Virginia Beach, Va., and two hotels in Outer Banks, N.C. <\/p>\n\n\n\n<p>The buyer intends to implement targeted capital and operational enhancements across the portfolio, including guest-facing improvements. Schulte Hospitality Group will assume operations of the portfolio.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/cre-trends-at-midyear\/\">CRE Trends at Mid-Year<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The portfolio consists of eight select-service hotels, five of which have been extensively renovated since 2022:<\/p>\n\n\n\n<p>\u2022&nbsp; SpringHill Suites by Marriott Virginia Beach Oceanfront<\/p>\n\n\n\n<p>\u2022&nbsp; Residence Inn by Marriott Virginia Beach Town Center<\/p>\n\n\n\n<p>\u2022&nbsp; Residence Inn by Marriott Virginia Beach Oceanfront<\/p>\n\n\n\n<p>\u2022&nbsp; Fairfield by Marriott Inn &amp; Suites Virginia Beach Oceanfront<\/p>\n\n\n\n<p>\u2022&nbsp; Holiday Inn Virginia Beach-Oceanside<\/p>\n\n\n\n<p>\u2022&nbsp; Holiday Inn Express &amp; Suites Virginia Beach Oceanfront<\/p>\n\n\n\n<p>\u2022&nbsp; Holiday Inn Express Nags Head Oceanfront<\/p>\n\n\n\n<p>\u2022\u00a0 Holiday Inn Express Kitty Hawk\u2013Outer Banks<\/p>\n\n\n\n<p>Seven of the eight properties are beachfront, with most rooms offering direct ocean views and outdoor balconies, while the remaining asset is a town center hotel.<\/p>\n\n\n\n<p>CBRE Hotels advised Coastal Hospitality, and CBRE Debt &amp; Structured Finance was the financing advisor to Ascendant.&nbsp;<\/p>\n\n\n\n<p>Ascendant said that the portfolio had been assembled over decades by Coastal Hospitality\u2019s founder, the late Thomas J. Lyons Jr. Starting with the acquisition of a 12-room inn in 1968, Lyons developed nearly 40 hotels across Virginia and North Carolina.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 965-key portfolio is composed almost entirely of beachfront properties.<\/p>\n","protected":false},"author":882,"featured_media":1004804767,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21751,21783,11,21742,32781],"tags":[52919,32789],"class_list":["post-1004804766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotel","category-investment","category-midatlantic","category-latest","category-southeast","tag-ascendant-capital-partners","tag-cbre"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ascendant Capital Partners Acquires Eight-Hotel Portfolio - 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