Hunter Hotel Advisors arranged the sale of 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.
Concord Hotel Group will manage the properties moving forward. David Perrin, SVP, Hunter, arranged the sale on behalf of the seller.
“We are glad to help one of our long-term institutional clients with another strategic disposition,” he said. “It was a pleasure working with IRAS group in identifying an investment for their 1031 exchange and welcoming their first properties outside the state of Florida. As with Florida, Texas’ business-friendly environment is drawing corporate relocations from all over the country. The greater San Antonio area is poised for continued demand growth.”
The Courtyard by Marriott and Fairfield Inn & Suites San Antonio SeaWorld/Westover Hills provide 277 guestrooms in south-central Texas. These two properties grant guests access to major attractions nearby, including SeaWorld San Antonio. Adjacent to SeaWorld is CHRISTUS Santa Rosa Hospital Westover Hills, a 377-bed medical center driving long-term demand to the region.