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Hospitality Firm Closes on Iconic SA Event Hall
The on-again, off-again saga of the comeback of the Villita Assembly Building is back on again. It’s the second time the iconic event hall has traded hands this year. The La Villita Assembly Hall was constructed in 1959, nearly a decade before the opening of San Antonio’s 1968 World’s Fair.
MLSA recently closed on the riverfront event venue, which was previously owned by CPS Energy.
The San Antonio Business Journal reports that MLSA has raised more than $10 million in equity from 48 investors as part of the deal.
CPS Energy sold the property to local developer GrayStreet Partners in March 2023 for $5.3 million. Despite saying it would “upgrade and restore” the Villita Assembly Building and operate the refurbished venue, it was placed on the market after five months.
MLSA went under contract for the building in January, planning a mix of new food and beverage venues. MLSA is a hotel development firm.
- ◦Sale/Acquisition
