Trailbreak Partners Secures $20.3 Million Recapitalization Loan For InterContinental San Antonio Hotel
111 East Pecan Street
$20,300,000
Building Size
—
Asset Type
Hotel
Closing
Jun 5, 2025
About this deal
AI
The InterContinental San Antonio Riverwalk Hotel is a 21-story hotel located at 111 East Pecan Street in the San Antonio market. The hotel features 390 keys and has undergone a significant renovation to transform it from a Wyndham Hotel in 2023. It offers a year-round heated rooftop pool and bar, a spa, and 18,000 square feet of meeting and event space.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $20,300,000
- Lender: Sean Ribble & Spencer Olson - Nuveen Green Capital
- Landlord: Trailbreak Partners
- Loan Type: Recapitalization
- Loan Terms: 30 years
- Total C-PACE Financing: $48.3 million
Sean Ribble and Spencer Olson from Nuveen Green Capital facilitated the recapitalization of the hotel's energy and water efficiency upgrades by leveraging Texas’ updated C-PACE parameters. Trailbreak Partners, as the sponsor, accessed an additional C-PACE assessment which enhanced the financing structure for the property's capital needs.
On the Map
$20,300,000
Hotel
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Players
San Antonio Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.78%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93