Updated Dec 4, 2024
The Lynd Group Secures $17.5M Loan On Gardendale Multifamily In San Antonio
4411 Gardendale, San Antonio, TX, 78...
$17,500,000
Units
224
Asset Type
MultiFamily
Closing
Nov 20, 2023
About this deal
AI
Auburn Creek, a 224-unit multifamily community located at 4411 Gardendale in San Antonio, TX, was the subject of a $17.5 million loan provided by Lument. The property, originally built in 1976, boasted a 91 percent occupancy rate at the time the loan closed.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $17,500,000.00
- Market: San Antonio
- Lender's Rep: Managing Director(Lument)
- Borrower: The Lynd Group
Marc Suarez, representing Lument, led the transactions for the acquisition loan at Auburn Creek. The borrower, The Lynd Group, a locally based multifamily investment firm, successfully secured the $17.5 million loan for the property.
Players
San Antonio MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93