Overview
- Hilco Real Estate announced the bankruptcy sale on Thursday and set a September 15 deadline for bids as part of In re: Tower Capital Group, LP, Case No. 5:26‑bk‑50689.
- The sale must be approved by the U.S. Bankruptcy Court for the Western District of Texas in San Antonio before any transfer can close.
- The asset occupies a full city block at 700 E. Adams Street and includes a 31‑story tower of about 374,200± square feet with 369 guestrooms, 27 apartments and roughly 50,000± square feet of meeting and event space.
- Hilco's marketing notes a separable rooftop communications lease that brings in more than $12,000 per month and other standalone revenue streams that buyers could monetize or exclude during redevelopment.
- Local commentators have raised concerns that the building has been allowed to fall into disrepair and may require major renovation or demolition, a factor that could affect financing, buyer interest and the downtown convention and hospitality economy.