SAN ANTONIO — New York City-based lender Ladder Capital has provided a $58.7 million bridge loan for the refinancing of Potranco Commons, a 360-unit apartment community located in San Antonio’s Far West Side submarket. Residences at Potranco Commons come in one-, two- and three-bedroom formats, range in size from 541 to 1,355 square feet and are housed across 15 three-story buildings. Approximately 40 percent of the units are reserved for renters earning 80 percent or less of the area median income. Amenities include a clubhouse, pool, fitness center, coffee bar, sand volleyball court, pet park, outdoor grilling and dining stations, multiple open green spaces and a DJ booth. Kevin O’Grady and Daniel Eidson of South Florida-based intermediary Concord Summit Capital arranged the loan on behalf of the borrower, locally based developer The Lynd Group.
Lynd Group began leasing Potranco Commons, a new apartment community on the west side of San Antonio, last August and completed construction of the property earlier this year.
Ladder Capital Provides $58.7M Loan for Refinancing of San Antonio Apartment Community
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