MIAMI GARDENS, FLA. — The Lynd Group has secured a $34.5 million loan, provided by A10 Capital, to refinance Parc Place, a 234-unit community in Miami Gardens, about 17 miles north of Miami. The Lynd Group, an investment, development and property management firm based in San Antonio, acquired Parc Place in 2021 for $40.8 million. The loan will support the company’s ongoing renovations. According to CEO David Lynd, monthly rent increases so far during the hold period have ranged from $120 to $150. Unit improvements include new flooring, countertops, stainless steel appliances and tile backsplashes. Common areas are also undergoing rehabilitation work.
Located at 17600 NW 5th Ave., Parc Place Apartments is a garden-style community offering a mix of one-, two- and three-bedroom residences. Amenities include a pool, fitness center, gated access, covered parking and on-site management and maintenance. The pet-friendly community also offers services such as package receiving and controlled access.