The Historic Cavalier Hotel was sold to a real estate firm along with other Oceanfront hotels; altogether, the sale had a price tag of over $174 million, according to filings on Virginia Beach’s Property Search.
In addition to the Cavalier, the Oceanfront Marriott and the Embassy Suites were also sold to Wheelock Street Capital LLC, a Connecticut-based real estate investment firm. HEI Hotels & Resorts will manage the properties.
Online filings report the following prices for each property:
- Marriott: $91,425,936
- Embassy Suites: $46,443,562
- Cavalier Hotel: $23,928,160
- Cavalier Beach Club: $12,278,200
A city spokesperson confirmed the amounts — totaling $174,075,858 — to News 3 on Thursday, adding that they were entered into the city’s system July 10, though the filings list the sale as having occurred on June 18.
Watch previous coverage: Historic Cavalier Hotel sold to real estate firm
Historic Cavalier Hotel sold to real estate firm
A resolution brought forth by the Cavalier’s owners was approved by Virginia Beach’s development authority in May…