BC LYND Hospitality, a San Antonio, Texas-based hospitality investment and management firm created earlier this year in a joint venture between LYND and BC Commercial Partners LLC, has made its first major acquisition with the purchase of the historic St. Anthony Hotel in downtown San Antonio.
BC LYND CEO Brandon Raney says his firm is planning a $24 million renovation to restore the 103-year-old hotel, which is listed on the U.S. National Register of Historic Places.
‘It will become the premier destination for social functions, wedding receptions, and other significant events seeking exceptional service and a meaningful experience,’ says Raney, who adds that the St. Anthony Hotel will be repositioned with a new hotel brand affiliation, new décor, updated meeting and function spaces, new restaurant, a rooftop bar and other hotel amenities.
BC LYND purchased the hotel for an undisclosed amount from the special servicing agency Berkadia after a competitive bidding process. IBC Bank provided debt financing for the acquisition and renovation of the hotel.
