Lingerfelt Commonwealth Partners sold the Delta Hotel by Marriott Virginia Beach Bayfront Suites on the north shore of Virginia Beach, Va., to a joint venture between BlackPearl Capital and an affiliate of Paceline Equity Partners for an undisclosed price. Hunter Hotel Advisors' Trey Scott and Spencer Davidson advised the seller.
Renovated in 2020, the 295-suite hotel offers views of the bay and three food-and-beverage services, a fitness center, an outdoor pool and direct beach access.
Virginia Beach’s tourism market has more than 19 million visitors annually. The town is known for its boardwalk and beaches and is home to two large military bases and the Port of Virginia, providing consistent demand.