February 17, 2017
D.J. Hospitality Management LLC acquired the Delta Inn, a 113-room, limited-service hotel at 9503 N. Interstate 35 in northeast San Antonio. Manci Enterprises LLC sold the asset for an undisclosed price. The property, which came online in the early 1970s, is assessed at $2.9 million.
CBRE’s Tyler Bean, Rahul Bijlani, Michael Yu and Dennis Drake represented the buyer and seller in the transaction.
“Investors continue aggressively pursuing hotels in the major Texas cities. The buyer purchased a hotel on a major thoroughfare at below replacement cost, with value-add potential,” Bean said.
Added Drake: “Increasing revenues in San Antonio are drawing hotel investors to the city. We were able to generate strong interest in the Delta Inn and have two additional properties in the San Antonio MSA that are set to close soon.”
For comments, questions or concerns, please contact Amy Sorter
For advertising information, please contact Joni Margotta