SAN ANTONIO, TX - Jacobs Real Estate Advisors announced today the acquisition of Hawthorn Suites by Wyndham in San Antonio, Texas. The management contract for this hotel has been awarded to JREA Management a sister company of Jacobs REA. This will ensure that this property, its managers, and the JREA Management team will share the same unified vision as the property investors.
Jacobs Real Estate Advisors has been acquiring distressed hotels throughout the United States over the past year. This most recent closing signifies the second successful hotel acquisition by Jacobs REA in a two week time period and sixth for 2013. By focusing on properties with high standings throughout their community and great long term investment potential, Jacobs REA has repeatedly found success in the Hotel industry. Hawthorne Suites by Wyndham of San Antonio, Texas was acquired from Live Oak Apartments LP by a newly formed Jacobs East Loop LLC for $4.55 million. With a few capital improvements this property will continue to be the premiere extended stay hotel in the area.
At Hawthorn Suites by Wyndham JREA Management’s Director of Hotels, Tom French will be working alongside the current staff to ensure that the Jacobs REA ideals are realized. With the current management team and staff staying in place, the property will continue functioning as normal throughout the transition.
Tom and JREA Management team will completing slight capital improvements over the next few months. The property recently underwent an extensive renovation from 2012 to 2013 amounting to almost $2 million. With the close proximity to Randolph Air Force Base, San Antonio International Airport, Alamo, and the Riverwalk this property has great growth potential.
“The future of this property is bright, we believe our team can capitalize on the recent renovations and quickly add value to our investors along with creating a long term sustainable business for San Antonio.” Sholom Jacobs, Principal at Jacobs REA stated at the closing. “We will continue to add Hotels to our portfolio with great cash flow that have the potential to offer above market value returns for our investors.”
To learn more about Jacobs Real Estate Advisors and JREA Management’s newest hotel, visit our companies online at www.jreamanagement.com and www.jacobsrea.com. For your next room rental in the San Antonio area contact the Hawthorn Suites by Wyndham at (210) 655-9491.
ABOUT JACOBS REAL ESTATE ADVISORS COMPAY
Jacobs Real Estate Advisors, a New York based real estate investment firm is renowned for its portfolio of above market performing properties as well as its active management techniques. The company’s growing portfolio includes hotel and commercial properties throughout the United States. The company is best known for its family values and its commitment to investors. JREA Management is the management arm for its sister company Jacobs Real Estate Advisors. JREA Management exclusively manages Jacobs Real Estate Advisors properties, this close relationship ensures that investors, employees, and the portfolio exceed expectations. These privately held companies have over a decade of investment and management experience, with the staffs experience spanning the last quarter century.