Hotel Valencia River Walk changes hands for $14.25 million

George Sell By George Sell
16 July 2017 | Updated 16 July 2017

US: Woodbranch Investments Corp has bought the Hotel Valencia River Walk in San Antonio, Texas.

Houston investment company Woodbranch bought the property from local developer GrayStreet Partners.

The company bought the 0.52-acre site, but the hotel owns the 12-story building and has a long-term lease on the property, said Philip Schneidau, Woodbranch's president. "We like what's going on in downtown San Antonio. We're seeing a lot of positive things," Schneidau said.

The hotel recently completed a $10 million renovation. GrayStreet had owned the property since 2015, when it bought nine Houston Street properties from Federal Realty Investment Trust of Maryland.

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