Description

Value Add Opportunity - Great value on a price per room basis. Property is a high rise 207 unit hotel in downtown Laredo. Built in 1976, this previous Hilton hotel is a full service facility including restaurant, lounge, meeting and banquet space for up to 475 persons, pool, fitness center, business center. The hotel is a single, round tower shaped, 15 story building with interior corridors. The lobby area adjoins a + 15' clear height porte cochere on the south side of the hotel. The basement of the building contains a floor of commercial space, meeting rooms as well as a guest exercise room.
With unusually large guest rooms, the property presents a tremendous opportunity for repositioning as a convention hotel or conversion to commercial or residential condos, office tower or an assisted living facility. Additional parcels can be added to the sale for future parking.
Motivated Seller - all offers and structures considered. Possible JV or partial sale for experienced operators.
Immediate to border of U.S. (Texas) and Mexico on the north high bank of the Rio Grande River. Highly visible from many areas of the dual cities split by the border. Property features panoramic views of the famed border river and Mexico. Within walking distance of the primary pedestrian/vehicle border bridge crossing. Adjacent to popular international shopping destinations and area attractions. Laredo is the nation's largest inland port and one of the top fastest growing cities, the popular area features an international airport, Texas A&M International University, historical district, museums, major retail centers and a revitalizing CBD. Hotel is located adjacent to the proposed $50M new convention center, near the end of the new IH-35 Exit ramp and surrounded by 100M in planned CBD revitalization projects. New Outlet mall with international appeal next door to be completed early 2017.
Call or e-mail Broker for Confidentiality Agreement to receive a detailed Investment Presentation.

Posted Sep 23, 2016

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