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Sunrise Realty Trust Announces Closing of the $41 Million Sale of the Thompson San Antonio Hotel

SUNS
  • Sunrise Realty Trust, Inc. (SUNS) announced the sale of the Thompson San Antonio property to The Loren Group for $41.0 million via a joint venture entity.
  • The transaction structure included $9.0 million in purchaser cash & a $32.0 million senior loan originated by SUNS.
  • SUNS holds a 65% ownership interest in the joint venture, resulting in a gross purchase price share of approximately $26.7 million ($5.9 million cash & $20.8 million loan).
  • SUNS' share of the purchase price aligns with the carrying value of its investment in the joint venture.
  • SUNS & its affiliate continue to pursue remedies under the former sponsor's guarantee.
  • SUNS acquired the property in March 2026 through foreclosure rights exercised on a prior senior loan secured by the asset.
  • The Loren Group plans to invest an additional $10 million in capital expenditures to enhance the guest experience.
  • The Thompson San Antonio is a 140,000-square-foot, 20-story mixed-use property in San Antonio's Art District featuring 162 luxury hotel rooms & amenities including a rooftop restaurant, spa, gym, & conference facilities.
  • The Loren Group operates luxury hotels in Bermuda, Austin, & San Antonio, with a new development in Turks & Caicos expected to open in 2027.
  • SUNS is an institutional commercial real estate lender focusing on transitional CRE projects primarily in the Southern United States.