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Sunrise Realty Trust Sells Thompson San Antonio Hotel for $41 Million

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SUNS$5.79 −1.03%

Sunrise Realty Trust, Inc. (SUNS) announced that its joint venture completed the sale of the Thompson San Antonio hotel to The Loren Group for $41.0 million. The transaction includes $9.0 million in cash from the buyer and a $32.0 million senior loan provided by the joint venture partners.

The sale allows the commercial real estate lender to exit a foreclosed asset while maintaining a financing position in the property. Sunrise Realty Trust and its affiliate originally acquired the 162-room luxury hotel in March 2026 through foreclosure under a prior senior loan. Based on its 65% stake in the joint venture, the company receives approximately $26.7 million of the purchase price, consisting of $5.9 million in cash and a $20.8 million principal interest in the new loan. This share aligns with the carrying value of its investment.

Looking ahead, The Loren Group plans to invest an additional $10 million in capital improvements over the coming months. Meanwhile, Sunrise Realty Trust and its affiliate continue to seek recovery under the former hotel sponsor's guarantee.

Key points

  • A joint venture owned by Sunrise Realty Trust sold the Thompson San Antonio hotel for $41.0 million to The Loren Group.
  • The deal comprises $9.0 million in purchaser cash and a $32.0 million senior loan originated by the sellers.
  • Sunrise Realty Trust holds a 65% interest in the joint venture, representing a $26.7 million share of the purchase price.
  • The seller originally took ownership of the 162-room luxury property through foreclosure in March 2026.
  • The Loren Group plans to spend an additional $10 million on capital expenditures for property improvements.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

What is the total sale price of the Thompson San Antonio hotel?

The Thompson San Antonio hotel was sold to The Loren Group for $41.0 million, including $9.0 million in purchaser cash and a $32.0 million senior loan.

How much will Sunrise Realty Trust receive from the hotel sale?

Sunrise Realty Trust holds a 65% stake in the joint venture, making its share approximately $26.7 million, consisting of $5.9 million in cash and a $20.8 million interest in the senior loan.

How did Sunrise Realty Trust acquire the Thompson San Antonio property?

Sunrise Realty Trust and its affiliate acquired the property in March 2026 through foreclosure rights under a prior senior loan.