River Walk Hotel Sells for $40.5 Million
What happened
A River Walk hotel sold in a street-side auction for $40.5 million, signaling ongoing investor interest in downtown San Antonio.
Why it matters
The hotel that was sold at auction is the Wyndham Riverwalk, located at 111 E. Pecan St. The sale took place on the steps of the Bexar County Courthouse. The auction occurred after the previous owner, Riverwalk Hotel LP, defaulted on a loan. The lender, Thistle Hill Capital, initiated the foreclosure. The winning bid came from an entity called 111 Pecan Hotel Venture LLC. Public records don't yet reveal the ownership behind the LLC. The sale price of $40.584 million is significantly less than the $65 million the hotel last sold for in 2017. This could reflect changing market conditions or specific issues with the property.
Key numbers
- A River Walk hotel sold in a street-side auction for $40.5 million, signaling ongoing investor interest in downtown San Antonio.
- The hotel that was sold at auction is the Wyndham Riverwalk, located at 111 E.
- The winning bid came from an entity called 111 Pecan Hotel Venture LLC.
- The sale price of $40.584 million is significantly less than the $65 million the hotel last sold for in 2017.
What happens next
- This could reflect changing market conditions or specific issues with the property.
Sources
Quick answers
What happened in River Walk Hotel Sells for $40.5 Million?
A River Walk hotel sold in a street-side auction for $40.5 million, signaling ongoing investor interest in downtown San Antonio.
Why does River Walk Hotel Sells for $40.5 Million matter?
The hotel that was sold at auction is the Wyndham Riverwalk, located at 111 E. Pecan St. The sale took place on the steps of the Bexar County Courthouse. The auction occurred after the previous owner, Riverwalk Hotel LP, defaulted on a loan. The lender, Thistle Hill Capital, initiated the foreclosure. The winning bid came from an entity called 111 Pecan Hotel Venture LLC. Public records don't yet reveal the ownership behind the LLC. The sale price of $40.584 million is significantly less than the $65 million the hotel last sold for in 2017. This could reflect changing market conditions or specific issues with the property.
