Tampa, Fla. (July 1, 2015) – The Plasencia Group is pleased to announce the sale of the Embassy Suites San Antonio – Northwest I-10 hotel, located in San Antonio, Texas. The firm represented FelCor Lodging Trust Incorporated (NYSE: FCH), the owner of the 216-room hotel. Hotel Capital, LLC, an Indiana-based real estate investment firm, acquired the property.
Robert Wiemer, Managing Director of The Plasencia Group, led the disposition team. Mr. Wiemer commented, “While all four major markets in Texas continue to perform well, the San Antonio market could likely outperform Houston, Dallas and Austin over the next three-year span. The purchaser was able to acquire a leading hotel in this city with a diverse and growing demand base and our client was able to sell an asset that no longer fell within its corporate strategy.” The Plasencia Group has sold more than 100 hotels in Texas since it was founded in 1993.
The Embassy Suites benefits from its location in the northeast quadrant of the intersection of Interstate 10 and Loop 410, one of the highest traffic count intersections in the San Antonio metroplex. Demand for the hotel emanates from the South Texas Medical Center, just two miles away, that houses the region’s largest concentration of medical treatment, research, education and related activity. Two of Texas’ most popular tourist attractions, SeaWorld and Fiesta Texas, are just ten minutes away.