Summary
The InterContinental San Antonio Riverwalk is an iconic, 21-story hotel, located in the heart of downtown San Antonio, TX alongside the San Antonio River. The luxury hotel, transformed from a Wyndham in a significant 2023 renovation, boasts a year-round heated rooftop pool and bar with sweeping skyline views of the city, a spa, state-of-theart fitness center, as well as 18k square feet of meeting and event space. Located near popular attractions including the Riverwalk, the legendary Alamo, the Tobin Center, and the San Antonio Museum of Art, the InterContinental provides city visitors with world-class accommodations, modern amenities and innovative design.
C-PACE Opportunity
By leveraging Texas’ recently updated C-PACE parameters, which increased the LTV to 35%, the Sponsor, Trailbreak Partners, was able to access an additional C-PACE assessment, providing more cost-efficient capital to recapitalize the hotel’s energy and water efficiency upgrades. This, combined with NGC’s previous C-PACE financing of $28 million, brings the total C-PACE financing for the InterContinental to $48.3 million. By deploying C-PACE to recapitalize previously installed energy efficiency measures, Trailbreak Partners was able to lower the property’s average cost of capital, and realize significant savings for the hotel.
