SAN ANTONIO—Ethika Investments, LLC has allocated capital for the acquisition of Marriott San Antonio Northwest Hotel located here.
The hotel offers 296 guestrooms and nine meeting spaces totaling 8,453 sq. ft. The property will undergo a $16-million renovation process.
This is the second capital allocation in the San Antonio market and the eleventh total capital allocation from Ethika’s Diversified Opportunity Real Estate Fund.
“Our second allocation in the San Antonio market boasts our utmost confidence in the city’s rapidly growing economy. Given its low unemployment rate and pro-business environment, this is a city poised to continue building its presence among domestic and international investors and corporate leaders,” stated Austin Khan, CIO, Ethika.
“Ethika’s capital allocation into this transaction is a perfect fit to our investment strategy in which we seek out assets in vibrant markets, acquire below replacement value and provide significant upside to be realized after implementation of the renovation program and operational efficiencies,” stated Talal Elass, VP of fund management, Ethika.