Hilton San Antonio Hill Country Hotel & Spa Near SeaWorld San Antonio
October 25, 2016 2:29am
Oct. 21--New York brokerage firm Goldman Sachs Group Inc. purchased the Hilton San Antonio Hill Country Hotel & Spa near SeaWorld San Antonio, property records show.
The five-story, 227-room hotel and meeting venue was purchased on Tuesday for an undisclosed price by GSPYR San Antonio, a company controlled by Goldman subsidiary Special Situations Investing Group II, state corporate filings show. The company has two addresses listed: one for Goldman's New York headquarters, and another for its office in Irving.
The hotel's previous owner was PD San Antonio Associates, which had owned it since 2007 and is linked to the Dow Hotel Company of Seattle and New Jersey-based PGIM Real Estate, a subsidiary of Prudential Financial, state corporate filings show.
Goldman Sachs spokesman Michael DuVally declined to comment on Friday morning. Representatives of Dow Hotel and PGIM Real Estate weren't immediately available for comment.
The hotel, at 9800 Westover Hills Blvd., opened in early 2002 as the Radisson Hill Country Resort. In 2009, it became a Hilton franchise and underwent $6 million of renovations. It has three outdoor pools, two restaurants, a spa and more than 10,000 square feet of meeting space, according to its website.
The 6.7-acre property that includes the hotel was assessed at $23.3 million this year, according to the Bexar Appraisal District. The hotel was Bexar County's twenty-eight most lucrative hotel in 2015, taking in $7.7 million in room receipts, according to data from the Texas Department of Licensing and Regulation.
Goldman's Special Situations Group tends to invest in real estate projects with a value greater than $20 million and for a term of three to six years, according to its website.
Earlier this week, Goldman announced that its earnings soared in the third quarter due in large part to trading and investment gains.
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