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Asset/Investment Management
FINANCIAL | Real Estate / Commercial Real Estate Investment
ascendantcapital.com

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Founded Year

2019

About Ascendant Capital Partners

Ascendant Capital Partners is a vertically-integrated real estate investment, development and operating platform headquartered in Los Angeles.

Ascendant Capital Partners Headquarter Location

11777 San Vicente Blvd Suite 650

Los Angeles, California, 90049,

United States

310-689-5144

Latest Ascendant Capital Partners News

Desperate hotel owners selling at discounts up to 30%

Jul 29, 2020

Chicago-based Watermark Lodging Trust sold Hutton Hotel in Nashville for $70 million, despite the property being valued at $90 million to $100 million. The REIT also raised $200 million from Ascendant Capital Partners and Oaktree Capital Management, agreeing to a 12 percent annual dividend. Other discount trades include Sunstone Hotel Investors selling Renaissance Harborplace hotel in Baltimore for $80 million — 20 percent off its pre-pandemic value. Playa Hotels & Resorts NV sold two Jamaica properties for $60 million, a 30 percent discount. The properties were Jewel Dunn’s River Beach Resort & Spa and the Jewel Runaway Bay Beach Resort & Waterpark. The Paycheck Protection Program covered many hotels’ payroll and other expenses for a while, but ran out before their customers returned. Meanwhile, lawmakers are contemplating a litany of potential relief measures. Senate Republicans on Monday proposed replenishing the PPP and expanding liability protections. A bill expected to be introduced Wednesday would create a government-backed vehicle to help commercial property owners make mortgage payments and prop up the commercial mortgage-backed securities market, the Journal reported. [ WSJ ] — Erin Hudson

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