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 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.”

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.

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.