Joe Shields' McCombs Enterprises Acquires Former Holiday Inn In Downtown San Antonio
318 West César E. Chávez Boulevard
Building Size
—
Asset Type
Hotel
Closing
Jan 19, 2024
AI
The McCombs family has acquired a former Holiday Inn located at 318 West Cesar Chavez Boulevard in San Antonio. The property, situated near the River Walk, spans approximately 4.5 acres. Previously, the hotel was leased for homeless housing until October 2025. The acquisition by Joe Shields of McCombs Enterprises presents an opportunity for potential redevelopment.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: Not specified
- Address: 318 West Cesar Chavez Boulevard, San Antonio
- Market: San Antonio
- Buyer: Joe Shields - McCombs Enterprises
- Seller: Deepak Israni - Pacifica Companies
The purchase of this former Holiday Inn in downtown San Antonio marks a strategic move by Joe Shields, representing McCombs Enterprises. The acquisition provides the McCombs family with full control over the prime property and sets the stage for potential future redevelopment.
Players
San Antonio Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93