Corebridge Sells San Antonio, Las Colinas Aloft Hotels

Corebridge sold another pair of Aloft hotels, closing out a portfolio of properties it purchased a decade ago.

Houston-based Corebridge Real Estate Investors, a subsidiary of financial services firm Corebridge Financial, sold the Aloft San Antonio Airport at 838 Northwest Loop 410 to Armanda Investments LP on March 25, public records show. Hunter Advisors Senior Vice President Kami Burnette and Vice President Mason McDavid brokered the deal, according to a press release.

On March 24, Corebridge also sold Aloft Las Colinas, a hotel at 122 East John Carpenter Freeway in the North Texas city of Irving, according to public records. The buyer is TRH Hospitality Las Colinas Realty LLC, a company registered to Jerry Crenshaw Jr., founder of Colleyville, Texas-based Rochester Real Estate.

The hotels are part of a group of four Aloft properties that Corebridge bought in 2015, according to public records. The company sold its Plano and Frisco hotels last year to a Dallas-based firm, Touchstone Hospitality Fund.

The 141-key San Antonio hotel, built in 2009, occupies 1.5 acres two miles west of the San Antonio International Airport, which is adding a new terminal. The $2.5 billion project, dubbed Elevate/SAT, will add 18 domestic and international gates by mid-2028 in an effort to encourage and accommodate future air service expansion, according to the San Antonio International Airport.

Corebridge acquired the property in 2015 for an undisclosed price. The price Armanda Investments paid last month also remains undisclosed, but public records show the company borrowed $10.7 million to purchase the hotel.

Armanda Investments LP is owned by Julio Grana Jr., who also owns Brownsville, Texas-based CRJ Hospitality LLC, according to state records. Grana operates several hotels in the Rio Grande Valley.

The hospitality industry has weakened more in San Antonio recently than in other major Texas metros. San Antonio hotels sold about 2.5 million room nights in the fourth quarter of 2025, a decline of 220,000 compared to the fourth quarter of 2024, according to data from Source Strategies. Occupancy fell by 5 percent during the same period, settling at 59 percent in the last quarter of 2025, Source Strategies found. Consequently, hotel revenue declined by 7 percent to about $342 million in the fourth quarter, year-over-year, the greatest decline in the Texas Triangle.

The buyer of Aloft San Antonio Airport plans to undertake a scheduled property improvement plan required by Marriott to conform to brand standards, according to the release.

The sale price of the Las Colinas hotel is also undisclosed. The hotel has 136 rooms, according to public records.

Dallas/Fort Worth is one of the nation’s leading hospitality construction markets, ranking among the top three metros nationally in 2025, according to a third quarter report by Matthews. Northern areas, especially Frisco, Las Colinas and Uptown, account for most hotel development in the Metroplex, Matthews found.