Trestle Studio, Spores Capital, And The Town Lake Co. Acquire El Tropicano Hotel In San Antonio With $15.5 Million Loan From The Ardent Companies

The closed El Tropicano hotel in San Antonio, located at 110 Lexington Ave. in the city's River Walk district, has been purchased by a consortium of Trestle Studio, Spores Capital, and The Town Lake Co. The acquisition was made possible with a $15.5 million loan from The Ardent Companies. The hotel had been closed since 2020 due to Covid lockdowns, but the new owners plan to renovate and revive the property.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $15.5 million
• Buyer: Trestle Studio - Jake Lamstein; Spores Capital; The Town Lake Co.- Rob Gandy
• Lender: The Ardent Companies

The consortium consisting of Trestle Studio, Spores Capital, and The Town Lake Co. played a pivotal role in acquiring the closed El Tropicano hotel. The new owners have secured a $15.5 million loan from The Ardent Companies, which enabled them to proceed with the purchase. The hotel, known for its prime location in San Antonio's River Walk district, is set to undergo extensive renovations to restore its former glory after being closed for an extended period due to the Covid-19 pandemic.