Two San Antonio Hotels Bought by IRAS Group

Hunter Hotel Advisors has sold the Courtyard by Marriott and Fairfield Inn & Suites SeaWorld/Westover Hills in San Antonio. An institutional investor sold both properties to Florida-based IRAS Group for an undisclosed price. IRAS Group is utilizing the sale as an investment for a 1031 exchange. Concord Hotel Group will manage the properties moving forward. Hunter’s David Perrin arranged the sale on behalf of the seller. 

The Courtyard by Marriott and Fairfield Inn & Suites San Antonio SeaWorld/Westover Hills provide 277 guest rooms in south-central Texas. The two properties, which neighbor each other, are in close proximity to major attractions nearby, like SeaWorld San Antonio. This 250-acre sea-themed amusement park ranks among the most popular theme parks in the country. Adjacent to SeaWorld is CHRISTUS Santa Rosa Hospital Westover Hills, a 377-bed medical center driving long-term demand to the region. IRAS Group’s portfolio is comprised of hotels, office, retail, mixed-use, and multifamily properties, primarily in Florida.