Marc Suarez Of Lument Arranges $18.6M Loan On MultiFamily Property In Universal City

The property involved in this transaction is Meadows Apartments, a 216-unit multifamily community located at 14001 Oak Meadows, Universal City, TX. It was constructed in 1972 and has been under the ownership of Lynd Company for more than 30 years. The loan amount for this refinancing transaction is $18,600,000.00 and is facilitated as a Fannie Mae loan, providing favorable terms for the refinancing of bridge debt.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $18,600,000.00
• Address: 14001 Oak Meadows, Universal City, TX
• Market: Universal City
• Lender: Unknown Correspondent life insurance company
• Borrower's Representative: Marc Suarez-Lument
• Sponsor: Lynd Company
• Property Ownership Duration: More than 30 years
• Previous Financing: $41.6 million bridge financing in 2019 for a three-property portfolio including Meadows Apartments
• Qualified for Fannie Mae’s Green Rewards program, resulting in over $100,000 for green repairs

Marc Suarez from Lument spearheaded the transaction, emphasizing the collaborative effort to enhance high-quality affordable housing through the work of Lynd Company. This loan represents a continuation of their relationship as Lynd Company is recognized for its extensive portfolio in multifamily development and management across multiple states.