Hilco Real Estate, LLC Announces September 22 as the Bid Deadline for a Rare Four-Property Guadalupe River Portfolio in New Braunfels, Texas

NORTHBROOK, Ill., Sept. 2, 2026 /PRNewswire/ -- Hilco Real Estate, LLC, a practice of Hilco Global – a diversified financial services company that delivers expert professional services and capital solutions to help clients maximize value and drive performance across the business lifecycle, is accepting bids until September 22 for a rare four-property portfolio along the Guadulupe River in the New Braunfels-Canyon Lake area.

Offered through a Chapter 11 bankruptcy sale directed by Gregory S. Milligan of Harney Partners as Chief Restructuring Officer for two jointly administered debtors, this portfolio is available individually or in any combination, providing investors with the opportunity to acquire a complementary collection of entertainment, hospitality, recreation and commercial assets, while also offering flexibility to allow buyers to pursue a strategy tailored to their investment objectives. The four assets include the iconic 5,600-capacity Whitewater Amphitheater, Hideout on the Horseshoe, a 19-cabin short-term vacation rental property, Whitewater Condos, a 1.26± AC riverfront rental property with three short-term rental units and direct Guadalupe River put-in access and a 1.52± AC commercial property featuring Andy's River Toobs, Jay & Diane's Horseshoe Grill and a leased billboard.

Strategically positioned within the Guadalupe River entertainment and recreation corridor, this area has become a well-established destination drawing visitors from throughout Texas and beyond for live music, tubing, boating, fishing, camping and waterfront lodging. The broader New Braunfels tourism market welcomed more than 6 million visitors in 2024, while the city's tourism industry generated approximately $1.3 billion in economic impact. New Braunfels' population has also grown significantly, reaching an estimated 122,492 residents in 2025, representing approximately 35.5% growth since 2020. Located along Interstate 35 between Austin and San Antonio, the city provides convenient access to two of the state's largest metropolitan areas and a rapidly expanding population base, further supporting demand for the region's hospitality, entertainment and recreational offerings.

At the center of the portfolio is Whitewater Amphitheater, a 5,600-capacity outdoor concert venue located along the Guadalupe River entering its 20^th anniversary of bringing world-class entertainment to the Texas Hill Country. This venue has become recognized as a regional destination for live entertainment, attracting both local audiences and visitors from out of town and out of state. Its riverfront setting provides a distinctive experience that cannot be replicated by a conventional concert venue, while its operating history includes performances by acclaimed artists such as Bob Dylan, Willie Nelson, Neil Young, ZZ Top, Miranda Lambert, Travis Scott, Chance the Rapper, Halsey, Zach Bryan and The Avett Brothers. The venue has also received multiple Academy of Country Music Venue of the Year nominations, including Outdoor Venue of the Year in 2022 and Medium Capacity Venue of the Year in 2018, reinforcing its position within the regional live entertainment market.

The next available property is located at 515 FM 2673, Hideout on the Horseshoe. This site encompasses approximately 4± AC directly on the river and features 19 recently renovated short-term vacation rental cabins. The property combines Hill Country character with direct river access, water and hillside views, private balconies, guest parking and a range of cabin configurations designed to accommodate groups large or small. A spacious riverfront patio and covered open-air pavilion provide additional opportunities for gatherings, private events and experiential programming.

Further enhancing the opportunity is Whitewater Condos, a 1.26± AC property at 546 Riverside Path, which features three short-term rental units and direct access to the Guadalupe River. Positioned along the popular Horseshoe Loop, the property also serves as the primary put-in point for Andy's River Toobs, a tubing operation serving visitors who come to experience the Guadalupe River's popular Horseshoe Loop. This site provides an operational connection between the portfolio's riverfront lodging and recreational uses. The property is located near Canyon Lake, tubing operators, resorts, campgrounds, restaurants and vacation rentals, while FM 306 provides direct access to New Braunfels and the broader Austin–San Antonio corridor.

The portfolio is rounded out by the approximately 1.52± AC commercial property at 12020 FM 306, which provides prominent frontage within the area's entertainment and recreation district. The property is integral to Andy's River Toobs and is also home to Jay & Diane's Horseshoe Grill, a 1,048± SF, family-operated burger stand that has served local residents and river visitors for more than 17 years. Additional revenue is generated by a double-sided billboard leased to SignAd Outdoor Advertising until April 2036, while the site also provides overflow parking for the adjacent Whitewater Amphitheater. Its combination of high visibility, established commercial uses, multiple income streams and proximity to the region's major recreational attractions creates both a compelling operating platform and potential for future repositioning or redevelopment.

"This is an exceptionally rare opportunity to acquire a collection of assets that are individually compelling and even more compelling together," said Steve Madura, managing director at Hilco Global. "The combination of entertainment, riverfront lodging, recreation and commercial uses creates the potential for an investor to build a truly diversified destination experience along the Guadalupe River, while the flexibility to purchase the properties individually or in any combination opens the opportunity to a broad range of investment strategies."

The sale is subject to approval by U.S. Bankruptcy Court for the Western District of Texas (San Antonio Division), Case No. 26-51866, In re: Kona Coast Venture, LTD & Hideout on the Horseshoe, LLC (Jointly Administered) and in cooperation with Hilco Real Estate, LLC Texas Broker #9017017-BB. Bids must be submitted using the documents available for review and download on the Hilco Global Real Estate Sales website.

Interested bidders should review the requirements outlined in the approved Bid Procedures in order to participate in the sale process available on Hilco's website. For further information, please contact Steve Madura at (847) 504-2478 or [email protected], Benjamin Zaslav, J.D. at (516) 761-8439 or [email protected], Michael Kneifel at (847) 201-2322 or [email protected] and Cooper Jones at (937) 760-3309 or [email protected].

For additional details, due diligence access and terms of sale, visit Hilco Global Real Estate Sales website or call (855) 755-2300.

About Hilco Global
Hilco Global, a subsidiary of ORIX Corporation USA, is a diversified financial services company that delivers integrated professional services and capital solutions that help clients maximize value and drive performance across the retail, commercial and industrial, real estate, manufacturing, brand and intellectual property sectors, and more. Hilco Global provides a range of customized solutions to healthy, stressed, and distressed companies to resolve complex situations and enhance long-term enterprise value. Hilco Global works to deliver the best possible result by aligning interests with clients and providing strategic advice and, in many instances, the capital required to complete the deal. Hilco Global is based in Northbrook, Illinois and has more than 810 professionals operating on four continents. Visit www.hilcoglobal.com. 

About Harney Partners
Harney Partners is a national, corporate-advisory firm that provides independent, multi-disciplinary solutions for middle-market companies and their stakeholders to overcome financial and operational challenges. For almost 30 years, we have helped clients realign their business for immediate stability and implement innovative, results-oriented strategies for future sustainability and growth. With eight (8) offices, and a primary footprint in the central United States, we're able to leverage our combined professional experience to provide custom solutions across the country. We specialize in restructuring and turnaround advisory (both bankruptcy and out-of-court), fiduciary services (CRO, Trustee, Receiver, Independent Director), as well as transaction advisory, interim management, and forensic/litigation services. Learn more at harneypartners.com

SOURCE Hilco Trading, LLC