$45M Bridge Loan Obtained for 645-Unit LYND Portfolio

LYND Co. secured a $45 million bridge loan to refinance and renovate a 645-unit multifamily portfolio in the San Antonio area. Hunt Real Estate Capital provided the financing.

The portfolio consists of:

• The 224-unit Auburn Creek, 411 Gardendale, San Antonio

• The 205-Unit Fairways 5, 8710 Datapoint Dr., San Antonio

• The 216-unit Meadows Apartments, 14001 Oak Meadows, Universal City

Renovations will include new countertops, tile backsplashes, cabinets, plumbing fixtures, lighting fixtures and appliances.

“LYND is a seasoned commercial real estate and multifamily investor, developer and manager,” said Hunt Real Estate Capital’s Marc Suarez. “Proceeds from this new bridge loan will be used to refinance existing HUD loans, fund immediate repairs and a new round of renovations, and free up capital to take advantage of other acquisition opportunities in the local market.”

He added that once the renovations are complete, permanent debt will be placed on the portfolio.

Pictured: Fairways 5, San Antonio

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