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Washington DC & Mid-Atlantic  + Virginia  + Hospitality  |  July 9, 2026
Jasmine Kilman
By: Jasmine Kilman

Ascendant Capital Partners Acquires Virginia Hotel Portfolio

Ascendant Capital Partners has acquired an eight-hotel portfolio from Coastal Hospitality Associates, LLC.

The Portfolio comprises 965 predominantly beachfront rooms across six hotels in Virginia Beach and two hotels in the Outer Banks. Ascendant will seek to implement targeted capital and operational enhancements across the portfolio, while Schulte Hospitality Group will assume operations.

The portfolio consists of SpringHill Suites by Marriott Virginia Beach Oceanfront, Residence Inn by Marriott Virginia Beach Town Center, Residence Inn by Marriott Virginia Beach Oceanfront, Fairfield by Marriott Inn & Suites Virginia Beach Oceanfront, Holiday Inn VA Beach-Oceanside, Holiday Inn Express & Suites VA Beach Oceanfront, Holiday Inn Express Nags Head Oceanfront, and Holiday Inn Express Kitty Hawk – Outer Banks. CBRE Hotels served as the sell-side advisor to Coastal Hospitality, and CBRE Debt & Structured Finance served as the financing advisor to Ascendant.

“This transaction reflects the continued execution of our differentiated hospitality strategy, which is focused on high-quality assets in dynamic, supply-constrained markets with resilient demand drivers,” said Alex Halpern, Co-Founder and Chief Investment Officer of Ascendant.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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