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In Brief: The Holiday Inn located in the North – Stone Oak area of San Antonio has changed hands, with Schreiner and Kwon Inc. now being the new owners.
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Holiday Inn San Antonio North – Stone Oak Area – Image Credit IHG Hotels & Resorts
HVS Brokerage & Advisory has announced the sale of the 111-key Holiday Inn San Antonio North – Stone Oak Area, located at 19280 Redland Road in San Antonio, Texas, to Schreiner and Kwon Inc. of Richland, Washington.
Schreiner and Kwon Inc., based in Richland, Washington, has purchased the 111-key Holiday Inn San Antonio North – Stone Oak Area from Stone Oak Hotel, LLC, a Houston-based company. The property, built in 2010, is located at 19280 Redland Road in the Stone Oak area of San Antonio. HVS Brokerage & Advisory managed the transaction.
The hotel is situated in the Stone Oak submarket of San Antonio, near the intersection of U.S. Highway 281 and Loop 1604. The 4,300-acre, master-planned community is experiencing significant commercial and residential growth. The property is near major corporate demand generators, including Marathon Petroleum Corporation, Silotech Group Inc., Black Brush Oil & Gas, EOG Resources, Stakeholder Midstream, Millenium PetroCapital Corporation, Energy Transfer Partners LP, iHeartMedia headquarters, and Methodist Hospital Stone Oak.
Nearby leisure destinations include TPC San Antonio Golf Course, Six Flags Fiesta Texas, SeaWorld San Antonio, the University of Texas at San Antonio, the San Antonio River Walk, and the Alamodome.
The sale involved Schreiner and Kwon Inc., an out-of-state investor, completing a 1031 exchange. The property was delivered with the property improvement plan completed.
HVS Brokerage & Advisory team members involved in the transaction were Eric Guerrero, James Rebullida, Matthew Omansky, Fadi Rawashdeh, Kyle Peterek, and Daneen Godinet.
