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Texas  + San Antonio  + Hospitality  | 
San Antonio Embassy Suites in foreclosure, to be auctioned

San Antonio Hotel Faces Courthouse Auction

While a number of hospitality ventures have thrived since the Covid pandemic, a number of hotels didn’t survive. An Embassy Suites hotel on the Northwest Side has gone into foreclosure. The property just north of the Loop 410 and I-10 interchange, is scheduled to be auctioned off next month.

The San Antonio Business Journal reports the site, formally known as Embassy Suites by Hilton San Antonio NW I-10, was purchased in July 2015 by California-based Hotel Capital LLC. The firm took out a $43.5 million mortgage from NXT Capital, a middle-market lender based in Chicago. In 2018, the mortgage was transferred to asset manager Sound Point Capital’s Global Investment Fund I.ย The property was recently assessed at about $22.7 million.

When it initially acquired the site, Hotel Capital’s mortgage maturity date was slated to mature in 2018. The firm receive a number extensions on the maturity date. May 31, 2022, was most recent maturity date.

The auction is scheduled for June 6 at the Bexar County Courthouse.


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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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