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On June 6, the Best Western Plus Sunset Suites Riverwalk, a four-story hotel at the corner of Commerce and Chestnut, just one block from the convention center, will be sold. Gosla Family Trust, the building's owner, defaulted on a $5M loan it used to buy the tract. The trust used the hotel as collateral for the loans this year and property tax payments, MYSA reports. The 0.8-acre plot includes a 37K SF building constructed in 2001 and a 13K SF building from 1890. Last year, the Bexar Appraisal District assessed the property at $5.2M.
The hotel is in San Antonio's St. Paul Square Neighborhood, which is receiving increased attention from developers. In addition to a new 271-unit multifamily complex, the State of Texas is looking to rehab the nearby G.J. Sutton complex.
