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San Antonio Hotel/Apartment Hybrid on the Block
WaterWalk at The Rim, a combined hotel and apartment complex, is up for sale. The 204,000-square-foot, 153-unit location was built in 2016 and currently has an occupancy rate of 88%, according to a JLL marketing flyer. The San Antonio Business Journal reports an offering price was not disclosed, though the site has an assessed value of $13,775,000, Bexar County tax records show.
JLL suggests that the property is suited for a hotel-to-multifamily conversion, adding that a prospective new owner would only need to make minimal investments for upgrades. It also touts walkability to The Rim’s attractions, such as Topgolf and Andretti Indoor Karting.
WaterWalk offers one-, two- and three-bedroom units either furnished or unfurnished. The unfurnished units start at $1,350. Its amenities include a 24/7 concierge, full-size appliances and paid utilities.
Founded in 2014, the Wichita, Kansas-based brand operates dual hotel-apartment properties in 12 markets around the country.
- ◦Sale/Acquisition
