Lynd Lands SA Rental Community for $76M

Lynd Acquisition Group (LAG) acquired a 327-unit garden-style apartment community in San Antonio for $76.25 million. Culebra Commons was developed in 2021 by Lynd Development Group. Both entities are part of San Antonio-based LYND Group.  

“At LYND, we feel that Culebra Commons is the nicest garden deal we have ever developed,” said CEO A. David Lynd.  “Selling it to someone else just did not feel right.”    

Amenities include a resort-style pool with private cabanas, Yoga studio and indoor/outdoor gym, an elegant club room with fireplace and flat screen TVs, resident lounge with a catering kitchen and a playground . 

LAG will receive a tax break on the property as 50 percent of the units have been set aside for affordable housing. Residents pay reduced rent based on their income related to the Area Median Income (AMI).  Lynd Development Group utilized a state program to encourage building more affordable units.