The 360-unit Potranco Commons was completed in Q1 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.
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. With operations throughout the U.S., Lynd ranks among the nation’s premier multifamily management companies. For more information, visit www.lynd.com.
About Ladder:
Ladder is a leading diversified commercial real estate finance platform that specializes in underwriting commercial real estate across the capital stack. With $4.8 billion of assets as of December 31, 2024, Ladder’s investment objective is to preserve and protect shareholder capital while generating attractive risk-adjusted returns. Ladder is headquartered in New York City with a regional office in Miami, Florida.
About Concord Summit Capital:
Concord Summit Capital is a leading intermediary between sponsors and providers of capital for commercial real estate debt and equity financing. CSC provides three independent services across its investment platform. The Concord Summit Capital Advisory Team provides fee-based advisory services for debt and equity transactions for commercial real estate capitalizations, ranging from $3 million to $1 billion. The Advisory Team has arranged over $23 billion of debt, structured financing, and equity. The Concord Summit Capital Investment Team acquires distressed assets and non-performing loans from all banks and financial institutions across the nation. The Concord Summit Capital Fund Team invests in commercial real estate debt and equity structures in transactions ranging from $2 million to $35 million. For more details, please see www.ConcordSummit.com.
