Ohana Real Estate Investors has acquired San Antonio, Texas-based La Cantera Resort & Spa, a luxury resort. The seller was USAA Real Estate. No financial terms were disclosed.
REDWOOD CITY, Calif.–(BUSINESS WIRE)–Ohana Real Estate Investors (“Ohana”), a vertically integrated investment firm focused exclusively on full-service hotels, announced today the acquisition of the La Cantera Resort & Spa, a 496-key luxury resort located in San Antonio, Texas, from USAA Real Estate. This transaction advances Ohana’s strategy to acquire high-quality hotel and resort properties across North America.
Located at the highest elevation point in San Antonio on 550 acres, La Cantera Resort & Spa is a pristine oasis offering stunning views of the Texas Hill Country and is in close proximity to San Antonio attractions and culture. The original rustic, King Ranch-style interiors were refreshed in 2015 with extensive multi-million-dollar renovations to recast the resort as a one-of-a-kind getaway with a contemporary Texas feel. The resort has also received the coveted Reader’s Choice award from Condé Nast Traveler for the last four years, a prestigious accolade earned by only a select few of the world’s leading resort destinations.
“Acquiring La Cantera not only advances our proven equity strategy, it also marks our entry into Texas with a best-in-class resort that will continue to benefit from numerous demand drivers,” said Franco Famularo, Chief Investment Officer at Ohana. “USAA Real Estate established the resort as a top destination in Texas and North America, and we look forward to continuing that success under our ownership.”
La Cantera offers a variety of amenities for guests, including two championship golf courses; 12 dining venues including Signature, Inspired by acclaimed Chef Andrew Weissman; Loma de Vida Spa & Wellness – a 25,000-square-foot spa; six pools with private cabañas; and 34 villas nestled among the property’s tree groves. Guests can enjoy walking trails among native oak, mesquite and pine trees punctuated by metal art installations made by local Texas artisans. The Villas also feature a private pool and bar and an indoor bar and market.
Ohana has been one of the most active hospitality investors throughout the pandemic, investing in credit opportunities and property acquisitions. La Cantera represents Ohana’s 11th investment and second hotel acquisition since the onset of the pandemic. The firm intends to continue to leverage its longstanding relationships to source and acquire hotel investments across North America, where it can unlock embedded value through operational improvements and capital investments.
About Ohana Real Estate Investors
Ohana Real Estate Investors is a vertically integrated investment firm focused exclusively on full-service hotels. Founded in 2009, the firm invests in debt and equity via commingled fund vehicles and separate accounts. Ohana owns a collection of properties in some of the most sought-after locations in North America. For more information, please visit www.ohanare.com.