Texas + San Antonio + Finance | July 28, 2021

Fannie Mae Loan Refis Bridge Debt on Meadows Apartments

An $18.6 million Fannie Mae loan recently went toward refinancing bridge debt on Meadows Apartments, a 216-unit multifamily community in Universal City, TX. The sponsor is Lynd Company, a multifamily developer and manager with a portfolio of 42,000 units in 187 properties across 26 states. Lument’s Marc Suarez spearheaded the transaction.

In 2019, Lument provided $41.6 in bridge financing to Lynd for a three-property portfolio which included Meadows Apartments. The property was constructed in 1972 and has been owned by Lynd for more than 30 years.

“Lynd excels at enriching communities across the country with high-quality affordable housing,” says Suarez. “Any time we can collaborate with them to advance that mission, we’re all in.”

In addition to the low interest rate, the transaction qualified for Fannie Mae’s Green Rewards program, resulting in more than $100,000 for green repairs.

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Marc Suarez

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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