San Antonio River Walk Hotel Sold
The Thompson San Antonio River Walk Hotel sold for $40.5 million in a rare street-side auction.
The hotel, located at 123 Lexington Ave., was sold to an entity called Lexington Avenue Hotel Owner LP. The auction took place on the steps of the Bexar County Courthouse. The auction was prompted by a loan default. The previous owner, DC Partners, faced financial difficulties. The sale price reflects a significant discount compared to the hotel's appraised value. The property was last appraised at $73 million.
