More Trouble for Lone Star Brewery; Developer Files for Bankruptcy

Lone Star Brewery Development, a subsidiary of Houston-based Parkview Capital Credit, filed for bankruptcy protection for San Antonio’s shuttered Lone Star Brewery. The developer indicated it has more than $27.1 million in total liabilities and just over $30 million in total assets. In seeking Chapter 11 reorganization, Parkview Capital has, once again, averted a foreclosure sale of the 32-acre property at 600 Lone Star Blvd.

Efforts to convert the former beer-production plant into a mixed-use development have met continual challenges. In 2017, retail developer CB&L Associates withdrew from a development venture with then-owner Aqualand Development. Parkview Capital took over the property later that year, later on facing a potential loan default and ongoing lawsuit.

Attorney Thomas Rice, who represents the developer, told the Rivard Report that the bankruptcy filing is meant to provide debt refinancing options, but was unsure as to whether the owners would keep the property.

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