May 18–Richmond-based real estate income fund management firm Lingerfelt CommonWealth Partners LLC plans to buy the Virginia Beach Resort Hotel & Conference Center at 2800 Shore Drive for $19 million, according to the city. The firm is planning a $25 million renovation of the property to rebrand it.
Lingerfelt CommonWealth Partners hired Commonwealth Lodging Management LLC, a Virginia Beach hospitality management and consulting firm, to operate and manage the hotel/conference center, which comprises 263,328 square feet with 295 suites on a 3.6-acre site along the Chesapeake Bay, according to a news release.
Lingerfelt plans to renovate and rebrand the hotel as Delta Hotel by Marriott — Marriott's newest upscale brand designed for business and leisure travelers, according to a news release.
The Virginia Beach Development Authority approved a $200,000 grant for the renovation.
