HILCO REAL ESTATE ANNOUNCES BANKRUPTCY SALE OF INTERSTATE DEVELOPMENT LAND ALONG THE 410 LOOP IN SAN ANTONIO, TEXAS

NORTHBROOK, Ill., October 13, 2022 /PRNewswire/ — Hilco Real Estate, LLC announcement November 8, 2022 as the bidding deadline for the bankruptcy sale of 52± acres of building land located in a rapidly growing region of San Antonio, TX. The property will be sold subject to a court approved stalking horse offer of $5,835,000.

Located along busy Loop 410 with over 60,000 vehicles per day, this property offers both residential and commercial development opportunities in that of San Antonio booming south side. The commercial portion totals approximately 12.5 acres and offers high visibility and easy access with 3,600 feet of interstate frontage. The residential segment totals nearly 40 acres, separated into two separate parcels measuring approximately 16 acres and 23 acres respectively.

The city of San Antonio is particularly focused on this corridor as the next explosive growth area and as such has designated the area as an “Additional Tax Reinvestment Zone” (TIRZ) and “Downtown Reinvestment/Infill Policy” zone. (ICRIP). The purpose of these incentives is to promote a dynamic mix of commercial, residential, educational and agricultural development in this part of Loop 410. Incentives also offer significant discounts that will significantly increase owner profitability.

The property is adjacent to VIDA, a new 600-acre mixed-use development that will feature 1,600 single-family residential lots, 1,400 multi-family units, 1,000 student housing and 1,000,000 square feet of retail space. Only 20 minutes from downtown San Antonio and minutes of Texas A&M UniversitySan Antonio (about 6,000 students enrolled each year), Palo Alto College (approximately 9,850 students enrolled annually) and the Toyota Motor Manufacturing Texas plant (approximately 2,000 current employees), this corridor enjoys an ideal mix of retail consumers and residential tenants and is expected to grow significantly in the coming years. coming.

According to the latest data from the US Census Bureau, San Antonio was ranked as the fastest growing U.S. city in terms of numerical population growth between 2021 and 2022 and second from 1990 to 2000. San Antonio serves as a seat County of Bexar and the center of San AntonioNew Braunfels metropolitan statistical area with a population exceeding approximately 2.6 million in 2021. With a combination of affordable housing, low cost of living, proximity to major employers, rich history/cultural heritage, high security clearance, and an eclectic food scene, San Antonio offers an ideal environment to live, work and play.

The sale is conducted by order of the US Bankruptcy Court Northern District of Texas (ft. The penalty), Bankruptcy Case #: 21-42132-mxm11, and is subject to a minimum stalking horse overbid of $5,835,000. Qualified bids must be received no later than the deadline for November 8, 2022 at 4:00 p.m. (CT) and must be submitted on the court approved purchase agreement in accordance with the Bankruptcy Court Approved Tender Procedures available for review and download from Hilco Immobilier website.

Steve Madura, senior vice president of Hilco Real Estate, said, “These development plots are located in one of the hottest markets in the country and provide an incredible opportunity for a variety of developers to get in on the action.” He continued, “These sites represent large areas of interstate development with significant frontage along the desirable neighborhood. Loop 410 corridor. They offer a variety of potential future uses as well as city incentives – features that should make this property very attractive to developers, investors and end users.”

Interested buyers should review the bidding procedures for the requirements to participate in the bankruptcy sale process available at Hilco Immobilier website. For more information, please contact Steve Madura at (847) 504-2478 or [email protected] Where Michel Kneifel at 847-201-2322 or [email protected].

For more information on the ownership, process and terms of sale or to obtain access to due diligence documents, please visit HilcoRealEstate.com or call (855) 755-2300.

About Hilco Real Estate

Hilco Real Estate (“HRE”), a Hilco Global company (HilcoGlobal.com), has its headquarters at Northbrook, Ill. (UNITED STATES). HRE is a national provider of strategic real estate disposal services. Acting as agent or principal, HRE uses its experience to advise and execute strategies to help clients derive maximum value from their real estate assets. By leveraging multi-faceted sales strategies and techniques, aggressive repositioning and restructuring experience, a large, motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations. , even in the most complex transactions.

SOURCE Hilco Real Estate

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