Trailbreak Partners Secures $20.3 Million Recapitalization Loan For InterContinental San Antonio Hotel

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.