Pearlmark Closes on Potranco Commons

Chicago, IL (March 31, 2022) – Pearlmark announced that it closed on a $11.3 million B-note investment for the development of Potranco Commons, a 360-unit multifamily property located in San Antonio, Texas. The development will consist of 180 market-rate units and 180 affordable units located in the Far West San Antonio submarket. The property will offer high-end amenities and access to a multitude of nearby employers.

The investment was made on behalf of Pearlmark Mezzanine Realty Partners V, L.P. (“Mezz V”). The A-note holder is Madison Realty Capital. Marc Suarez of Lument represented the borrower and sponsor, LYND Development, in securing the financing.

Steve Gordon, Managing Director of Pearlmark, arranged the transaction for Pearlmark. Mr. Gordon commented, “We look forward to being a lending partner on this new development that will deliver 360 Class-A apartments into the San Antonio Market.”

Doug Lyons, Managing Principal and Head of Debt Investments for Pearlmark, further commented, “We are thrilled to finance an outstanding affordable multifamily development in the thriving San Antonio metro area for LYND Development, a best-in-class sponsor, in its own backyard.”

ABOUT PEARLMARK

Pearlmark is a Chicago-based investment firm that targets domestic core to value-add real estate opportunities via commingled funds, separate accounts, and joint venture structures. Since 1996, Pearlmark has sponsored more than a dozen real estate equity and debt investment programs and completed 558 real estate equity and debt transactions on behalf of investors, representing $5.3 billion in equity capital commitments and $13.7 billion in gross investment value. Pearlmark is dedicated to creating value for its investors and offers a range of investment opportunities nationwide across various property types (office, industrial, multifamily). For more information, please visit https://www.pearlmark.com.