SAN ANTONIO, Nov. 23, 2020 /PRNewswire/ — Hodges Ward Elliott (“HWE”), the premier boutique real estate capital markets advisor, arranged the sale of Hotel Contessa, a 265-key, all-suite luxury hotel asset located at 306 West Market Street in San Antonio, Texas.
An HWE team composed of John Bourret, Managing Director, Austin Brooks, Director, and David Auer, Associate, represented ownership in the sale. Lawrence Britvan and Pete Fehlman, both Managing Directors with HWE, advised the buyer on the financing structure for the acquisition as well.
“This was a rare opportunity to acquire an ideally located, all-suite, Riverwalk hotel with a consistent history of strong and efficient performance,” said John Bourret from Hodges Ward Elliott. “Hotel Contessa is also currently operating independently of any hospitality brand which offers the new owner additional flexibility in future branding and operations. HWE generated a number of offers on the asset from a variety of buyers and we’re pleased to announce the close of the sale.”
Built in 2005, the 12-story Hotel Contessa boasts a premier location directly on San Antonio’s highly sought-after Riverwalk and is centrally positioned near the area’s strongest demand drivers including The Alamo, San Antonio’s Central Business District, and many of the region’s other top cultural destinations.
Hotel Contessa also offers 10,000 square feet of function space, a rooftop pool, a full-service restaurant/bar with Riverwalk views and access as well as a full-service spa.read full article