Lynd Secures Two Multifamily Assets with Renovation in Mind

Two proprietary bridge loans totaling $70.1 million were recently secured to facilitate acquisitions for The Lynd Company. The proprietary bridge loans financed the acquisitions and renovations of two multifamily communities with a combined 684 units in the Houston metro.

In the first transaction, Lument provided a $32.3 million bridge loan for the acquisition of Villas at Valley Ranch, a 312-unit garden-style community in Porter, TX. The second bridge loan in the amount of $37.8 million facilitated the acquisition of Paramount at Kingwood, a 372-unit multifamily community in Kingwood, TX. Marc Suarez led the transactions for Lument.

“The Lynd Company is an excellent developer and manager, and we were happy to once again utilize our proprietary bridge loan program to help them expand their portfolio so they can continue providing high-quality multifamily housing to renters at all income levels,” said Suarez.

In addition to financing the acquisitions, the bridge loans provide $3.6 million for renovations at Villas at Valley Ranch and $4.8 million for capital improvements to Paramount at Kingwood. Lynd has managed 15,500 units in Texas and completed several renovation projects.