SAN ANTONIO, TX - Lynd Acquisitions Group (LAG), a division of The Lynd Group, acquired the Kelly Hamilton Apartments, a 110-unit affordable multifamily housing community in Pittsburgh, Pennsylvania. The property was purchased through a bankruptcy proceeding in the U.S. Bankruptcy Court for the District of New Jersey.
The acquisition concludes a complex, multiyear process that required coordination across legal, financial, operational and regulatory functions.
Kelly Hamilton is part of a larger 10,000-unit low-income portfolio that became distressed due to the neglect and mismanagement of its previous owners. In 2024, a lender-appointed fiduciary hired LAG affiliates to take over asset and property management of the portfolio in order to help stabilize and rehabilitate operations.
Kelly Hamilton is encumbered by a long-term Housing Assistance Payments (HAP) contract administered by the U.S. Department of Housing and Urban Development.
“The story behind this acquisition represents everything about who we are as a company,” said A. David Lynd, CEO of The Lynd Group. “Over the past two years, our team pushed through challenges that tested every part of our organization — learning bankruptcy and debtor-in-possession financing in real time, stepping in as lenders, navigating a competitive marketing process, completing rehab under pressure and securing HUD approval. Every inch of this win was earned.”
Throughout the process, Lynd’s construction, compliance, lending, asset management and on-site operations teams played critical roles. Their work ensured the property remained stable, compliance issues with the city were resolved, essential repairs —including major water system improvements—were completed and the community remained positioned for long-term success under its HAP contract.
With the acquisition complete, Lynd will prioritize elevating the resident experience, continuing physical improvements and ensuring the community remains a safe, well-maintained home for its residents. Lynd’s long-term execution on this asset envisions a tax credit execution to help secure affordable housing well into the future.
The Kelly Hamilton Apartments comprises 21 buildings in the Homewood South neighborhood of Pittsburgh.
About Lynd Group: The Lynd Group, based in San Antonio, Texas, is a national real estate investment, development and property management company with a track record of repositioning distressed assets and executing complex transactions. Through Lynd Acquisitions Group, the company continues to expand its multifamily portfolio while maintaining a commitment to operational excellence and resident-focused service.