Company closes on $49 million in financing to support renovation and repositioning of 1,512 apartments acquired in bankruptcy earlier this year

San Antonio, Texas / New Orleans, Louisiana — (April 27, 2026) — The Lynd Group, a San Antonio-based real estate investment, development, and property management firm, closed on $49 million in financing to support a massive renovation program involving 1,512 apartment units that the company bought out of bankruptcy in New Orleans East earlier this year. 

Lynd acquired the 4-property portfolio in the New Orleans, Louisiana sub-market at an attractive basis price, enabling it to deploy significant capital toward a $30 million renovation and repositioning program, alongside the financing facility provided by CFG Bank (CFG). 

Lynd is undertaking a comprehensive initiative to transform the real estate and surrounding area through large-scale reinvestment, community engagement and long-term stewardship. 

The current multifamily landscape, particularly across Class C assets, has been significantly disrupted by a combination of rising operating costs and escalating interest expense, which has compressed and, in many cases, eliminated net operating income. As a result, many properties have entered a downward spiral characterized by deferred maintenance, unaddressed work orders, unpaid obligations, and ongoing physical deterioration.

These assets require a fundamental reset, both financially and operationally. This includes establishing a new basis, executing targeted rehabilitation to address years of underinvestment, and implementing disciplined property management to restore stability and performance.

Lynd is uniquely positioned to execute on this opportunity. Through its vertically integrated platform, combining an experienced management company with in-house construction and rehabilitation capabilities, the firm can efficiently identify distressed assets, implement the appropriate scope of work, and drive stabilization through disciplined execution.

The firm views this as a significant and scalable market segment, where operational expertise and capital discipline can generate both strong investment returns and meaningful community impact. 

Lynd’s approach extends beyond physical improvements, focusing on building a stable, safe, and engaged residential community from the ground up. The firm is actively partnering with local churches, community organizations, and neighborhood stakeholders to create a unified environment centered on accountability, respect, and shared responsibility.

“We are not just renovating apartments, we are rebuilding a community,” said A. David Lynd, CEO of The Lynd Group. “Our focus is on attracting residents who take pride in where they live, respect their neighbors, and contribute to a positive environment.” 

The Comprehensive Community Investment plan includes:

 Interior Upgrades (Majority of Investment):

- New appliances
- Updated flooring
- Modern countertops

Community & Lifestyle Enhancements:

- After-school programming
- New sport courts
- Community centers
- Playgrounds
- Pools
- Fitness centers

Safety & Infrastructure Improvements:

- Privacy gates
- Security cameras
- On-site security presence

 The initiative is designed to create a family-oriented environment where residents feel safe, connected, and invested in their community. Lynd’s goal is to create a place where neighbors look out for one another and where the community becomes one of the most desirable places to live in New Orleans East once again.

 Lynd emphasized that the transformation of the portfolio is not driven by aggressive rent increases, but by creating a stable and sustainable community aligned with the broader New Orleans East market.

 Current rents across the portfolio range from approximately $950 to $1,430 per month, placing the communities firmly within a workforce housing price point. Following renovations, Lynd anticipates modest rent increases of approximately $100 to $200 per unit, consistent with comparable properties in the submarket.

 “We are not coming in to push rents beyond what the market can support,” said Lynd. “We picked up this portfolio at the right basis so we could make the necessary investments and still keep rents competitive. Our focus is on improving quality, safety, and overall living experience, not pricing residents out.”

Rather than relying on rent spikes, Lynd’s strategy is centered on long-term occupancy, resident retention, and community stability, ensuring the properties operate efficiently while remaining accessible to working families in New Orleans East.

“CFG Bank is pleased to partner with The Lynd Group on the rehabilitation of these communities, delivering a significant number of new, affordable housing units in a market that has seen limited investment for far too long,” said Tim Eberhardt, Executive Vice President, Bridge, HUD and Agency Division of CFG Bank. “Given The Lynd Group’s proven track record executing large‑scale renovation and repositioning projects, we are proud to support this meaningful and much‑needed investment in New Orleans East.”

 About The Lynd Group

The Lynd Group is a fully vertically integrated real estate organization based in San Antonio, Texas, with a long-standing track record in the acquisition, development, and management of residential and commercial real estate nationwide. The firm owns and manages more than 17,000 apartment units across 12 states, with a national real estate portfolio valued at over $2.8 billion.

 About CFG Bank

CFG Bank, headquartered in Baltimore, Maryland, provides flexible financing and online banking solutions nationwide, with a specialized focus on the healthcare and multifamily industries, as well as the Mid-Atlantic commercial banking market. CFG is the largest bank headquartered in Baltimore with assets over $6.0 billion as of December 2025. With more than 30 years of experience, CFG is among the most established healthcare bridge-to-HUD lenders in the United States. The company combines institutional scale capabilities with relationship driven, boutique service to structure tailored financing solutions that support long-term client success. Through its Bridge, HUD, and Agency division CFG delivers comprehensive financing solutions to healthcare operators and owners across the country, offering expertise in HUD-insured loans, bridge lending, mezzanine financing, working capital solutions, and commercial banking services. CFG, is a national leader in the FHA-insured mortgage industry, having provided more than $7.1 billion in Section 232 mortgages nationwide. For more information, visit www.CFG.bank and follow CFG Bank and Capital Funding Group on LinkedIn, Facebook, Instagram, and X. Member FDIC. Equal Housing Lender.

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Kelly Hamilton is encumbered by a long-term Housing Assistance Payments (HAP) contract administered by the U.S. Department of Housing and Urban Development.

“The story behind this acquisition represents everything about who we are as a company,” said A. David Lynd, CEO of The Lynd Group. “Over the past two years, our team pushed through challenges that tested every part of our organization — learning bankruptcy and debtor-in-possession financing in real time, stepping in as lenders, navigating a competitive marketing process, completing rehab under pressure and securing HUD approval. Every inch of this win was earned.”

Throughout the process, Lynd’s construction, compliance, lending, asset management and on-site operations teams played critical roles. Their work ensured the property remained stable, compliance issues with the city were resolved, essential repairs —including major water system improvements—were completed and the community remained positioned for long-term success under its HAP contract.

With the acquisition complete, Lynd will prioritize elevating the resident experience, continuing physical improvements and ensuring the community remains a safe, well-maintained home for its residents. Lynd’s long-term execution on this asset envisions a tax credit execution to help secure affordable housing well into the future.

The Kelly Hamilton Apartments comprises 21 buildings in the Homewood South neighborhood of Pittsburgh. 

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San Antonio, TX – (April 9, 2025) – The Lynd Group, a national real estate development and property management firm, closed on a $58,750,000 bridge loan from Ladder Capital to refinance Potranco Commons, a premier luxury multifamily community located at 202 W. Loop 1604 S. on San Antonio’s Far West Side. "The new financing will pay off the initial construction loan. Potranco Commons was completed in the first quarter of 2025.

“In today’s world, the debt side of the equation is no longer a given.  Ladder came with a strong quote, executed flawlessly and brought this to a quick close.  We are very pleased as this positions the asset in a good place to get through this cycle,” said A. David Lynd, Lynd Group CEO.

Lynd added, “I want to thank the entire Lynd Development team for bringing this incredible project to life--from concept to completion. It holds special meaning for our company, as it was built right in our own backyard.”

“Lending on new, high-quality multifamily projects is an integral component of Ladder’s business strategy, and we are glad to have partnered with the Lynd Group on this opportunity,” said Brian Harris, CEO of Ladder Capital.

 The financing was arranged by Kevin O’Grady and Daniel Eidson of Concord Summit Capital.

 “We were very happy to close another loan with the Lynd Group. We think the world of David Lynd and his organization and are looking forward to the next opportunity to work together,” said O’Grady, Concord Summit chairman.

Potranco Commons is a 360-unit luxury apartment community offering modern one-, two-, and three-bedroom residences. Each unit features premium finishes such as quartz countertops and smart-home technology, designed to cater to today’s discerning renters.

The community boasts a variety of resort-style amenities and services, including:

• Resort-style pool with lounge areas
• State-of-the-art fitness center and yoga studio
• Playground and pet park
• Sand volleyball court
• Coffee bar
• 24/7 package lockers
• Rentable storage lockers

The property’s prime location places residents just minutes from popular restaurants, retail centers, and entertainment destinations, making it a highly desirable living environment in one of San Antonio’s fastest-growing areas.

This is the second new multifamily development Lynd refinanced over the past few weeks.  On March 14, it received a $132.5 million loan from MF1 Capital for the 401-unit Villas at Tuttle Royale located in Royal Palm Beach, a thriving community near West Palm Beach, Florida.

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Funds to pay off construction lender on the 401-unit resort-style Villas at Tuttle Royale

WEST PALM BEACH, FL/SAN ANTONIO, TX— (March 28, 2025)—The Lynd Group, a national real estate development and property management firm, refinanced one of its premier multifamily developments in South Florida, The Villas at Tuttle Royale. The $132.5 million bridge loan provided by MF1 Capital will retire a construction loan for the property, which was completed in the first quarter of 2025.

"I believe this refinancing is a testament to the quality of our development and the strength of our company as a borrower," said A. David Lynd, CEO of The Lynd Group. "We take pride in delivering best-in-class multifamily communities that stand out, such as The Villas at Tuttle Royale.  Securing over $132 million in debt on the property underscores the confidence top-tier lenders have in our vision and execution.”  

Lynd continued, “I would like to thank Declaration Partners for being a terrific partner in the Villas deal, our construction lender S3 Capital, and commend the entire Lynd development team for taking this incredible project from concept to completion.”   

In March 2023, New York-based S3 Capital provided $126 million in construction financing for the 401-unit project.

“The Villas at Tuttle Royale serves as a prime example of the liquidity available in the South Florida market for the right product,” said Steven Jemal, managing director of origination at S3 Capital.” The Lynd team performed as promised, paying off our loan in full, on time, and on budget. Lynd has shown time and time again they know how to execute, and we look forward to partnering together again in the future.”

The Villas at Tuttle Royale is located at 11200 Nicole Drive in Royal Palm Beach, a thriving community west of West Palm Beach, Florida. Lynd Development developed the $170 million resort-style rental community within Tuttle Royale, a 200-acre mixed-use project near US 98 and US 441. The large adjacent mixed-use project will feature several anchor tenants, including trendy restaurants, shopping, green space and community gathering spaces.

The Villas at Tuttle Royale consists of 26 three-story, garden-style buildings with private detached garages and carports and 55 townhomes with private two-car garages. The community offers a variety of one-, two-, three-, and four-bedroom residences, all featuring quartz countertops, wood-style flooring, and smart-home technology.

Residents enjoy an extensive amenity package, including:

• A two-story clubhouse with a sauna, fitness and wellness center, coffee bar, private dining areas, game room, community catering area, two lounges, co-working pods, business center and outdoor panoramic terrace
• An expansive recreation deck featuring a resort-style pool, cold plunge, spa, cabanas, lounge seating, fire pits and an outdoor pool pavilion equipped with gas grills.
• Outdoor amenities such as a golf putting green, bocce and pickleball courts, volleyball court, soccer fields, summer kitchen, fire pit, dog park and run, lake and field overlooks, bike path, lake running trail accompanied by exercise stations, and a children's playground.

SAN ANTONIO, TX- (October 25, 2022)- Lynd Acquisitions Group (LAG), a division of The Lynd Group, has acquired another apartment community in San Antonio, recently closing on the 344-unit Parc 410 in the Leon Valley submarket.  The acquisition price was not disclosed.  Lynd plans on investing $6 million in renovating units and common areas, and performing deferred maintenance.

The garden-style property is located at 5827 NW Loop 410 near the San Antonio River Walk and within a few miles of major employment centers and retail centers.

“With Parc 410, we see a well-located asset ripe for a refresh providing more value to our residents and our investment partners,” said A. David Lynd, Lynd Group CEO.  “While there’s room to push rents higher, renters will still be able to get good bang for their buck compared to other parts of the metro area.”

Built in 1985, the property has one- and two-bedroom units averaging 716 square feet.  Lynd plans on upgrading each of them with new kitchen appliances, cabinet doors, and backsplash tile, as well as new hardwood flooring and lighting fixtures.  Lynd will also upgrade many of the amenities which include two pools, a clubhouse and fitness center, BBQ and picnic areas, gated dog park and a basketball court.   Plans call for installing package lockers and a children’s playground.

Lynd will add the property to its Lynd Living management platform which plans a rebrand once renovations are made.

“From an investment standpoint, we remain bullish on San Antonio,” said Constantine Scurtis, Lynd Group’s chief investment officer.  “Strong in-migration and a lack of housing affordability bode well for multifamily rentals now and into the near future.”

“These are challenging times for capital markets, which in turn has forced many owner-operators to the sidelines,” Lynd said. “But we have had a 40-plus year history of closing deals and managing  in uncertain times and are continuing to push forward now by looking at the world through a new lens.” 

Parc 410 is Lynd’s second apartment investment in San Antonio in the past eight months. In March, it acquired the 244-unit Esperanza Apartments in the Far West Side submarket. 

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ABOUT THE LYND GROUP:   

The Lynd Group is a fully vertically integrated real estate organization based in San Antonio, TX with a long-standing history in the acquisition, development, and management of residential and commercial real estate. Operating approximately 20,000 apartment units in 13 states, Lynd ranks as one of the premiere multifamily management companies in the country.  For more information, visit www.lynd.com.

ABOUT LYND ACQUISITIONS GROUP:

Lynd Acquisitions Group (LAG) is a wholly owned subsidiary of The Lynd Group focused on acquiring properties nationwide where LAG’s process for value creation can be fully utilized creating exceptional value for all the stakeholders.

New rental community to offer affordable leases with host of amenities and high-end finishes

San Antonio, Texas--The Lynd Group has started construction on a 360-unit mixed-income apartment development in San Antonio’s emerging Far West Side. The company has partnered with Santikos Enterprises and the San Antonio Housing Authority (SAHA) to develop Potranco Commons located at Potranco Road and Loop 1604. 

On Wednesday, May 25, about 40 guests attended a morning groundbreaking ceremony and got a chance to hear the partners’ vision for the property.    

“Lynd is honored to partner with two very esteemed organizations such as Santikos and the San Antonio Housing Authority on this amazing project,” said A. David Lynd, The Lynd Group CEO.   “Potranco Commons will bring the highest-end construction quality, amenities and unit finishes to the market while keeping rents affordable. This program with SAHA is ensuring that San Antonian’s of all income levels have the opportunity to enjoy this quality of housing.”

Rents will range from $810 to $1,547 per month with approximately 40% of the units available for people who earn 80% or less of the Area Median Income (AMI). Potranco Commons features one-to-three-bedroom units that range in size from 533 to 1,345 square feet.

Residents will have access to several amenities which are typically not found in a mixed-income development.  They include a clubhouse, pool and cabanas, fitness center, professional barbecue grill stations, and a DJ booth. There will also be plenty of open green for residents to enjoy.

Potranco Commons has been in the making for the past two years.  Santikos Enterprises owns the site and Lynd will be responsible for building, leasing and managing the property once it opens sometime in the second quarter of 2024.  

“We selected Lynd for this project because of their best-in-class reputation as a developer and this project will be great for the San Antonio community in many ways,” said Tim Handren, CEO of Santikos.  “John Santikos left his estate to the San Antonio Area Foundation so that his business would continue to operate, and the profits could be distributed back to the community through the Foundation. With an eye toward affordable housing, we are proud to partner with Lynd and SAHA to make this project a reality.”