3650 REIT, a nationwide commercial real estate investment firm originating and servicing portfolio loans for relationship borrowers, has originated a $38 million loan to refinance the Thompson San Antonio—Riverwalk Hotel. The loan carries a term of 30 months and two six-month extension options, and is provided to sponsor DC Partners, a Houston-based development and investment firm.
“The Thompson San Antonio transaction is a prime example of 3650’s strategy of investing in well-located hotels in high-growth areas, and, as the travel industry continues to recover from the economic impacts of COVID-19, we believe the Property will enjoy long-term success,” 3650 Co-Founder and Managing Partner Jonathan Roth said in statement. “We’re thrilled to once again work with DC Partners, a repeat 3650 borrower, who recognizes the benefits of our differentiated lending solutions, focus on borrower relationships and powerful approach to structuring creative financing packages.”
The 162-room Thompson San Antonio, which opened in February 2021, includes 59 residential condominiums, 58 of which have been sold. The property, part of Hyatt Hotels' Thompson brand, has an indoor/outdoor rooftop restaurant and lounge, a ground floor restaurant, a rooftop pool deck on the fourth-floor podium, an on-site fitness center, a spa and nearly 7,000 square feet of meeting space.