Developer Logan Anjaneyulu Faces Bankruptcy with Afton Oaks Project

Developer Logan Anjaneyulu Faces Bankruptcy with Afton Oaks Project

Nikolaus Schmidt
2 min read

Afton Oaks Residences LLC Facing Bankruptcy Amidst San Antonio Real Estate Project

Logan Anjaneyulu, the developer once accused of mismanaging the El Tropicana Riverwalk Hotel, is now confronting bankruptcy issues with his latest venture, Afton Oaks Residences LLC. The project, a nearly 500-unit apartment complex located in San Antonio’s North Side, has filed for bankruptcy, disclosing assets in the range of $10 million to $50 million and liabilities between $1 million and $10 million. Anjaneyulu, the founder of Alamo Equity, had envisioned constructing the complex on 29 acres near Loop 1604 and Hollywood Park, with plans initiated two years ago. However, no progress has been made at the site. The project had forecasted generating $8.7 million in revenue and $4.8 million in net operating income by its fourth year. Another entity associated with Anjaneyulu, Alamo Multifamily Group LLC, has filed a $3.7 million claim as an unsecured creditor. The bankruptcy filing of Afton Oaks indicates strategies to either sell or refinance its secured debt with Infin8 Lending, LLC, in pursuit of a feasible reorganization plan.

Key Takeaways

  • Logan Anjaneyulu's Afton Oaks Residences LLC files for bankruptcy on a 500-unit apartment project in San Antonio.
  • The company lists assets between $10-$50 million and liabilities between $1-$10 million.
  • Anjaneyulu, previously accused of mismanaging the El Tropicana Hotel, plans to sell or refinance secured debt with Infin8 Lending.
  • Alamo Multifamily Group LLC, linked to Anjaneyulu, has a $3.7 million claim as an unsecured creditor.
  • The planned apartment complex aimed for a certificate of occupancy by July or August 2024, but no construction has started.


Logan Anjaneyulu's bankruptcy of Afton Oaks Residences LLC has a significant impact on San Antonio's real estate market and the creditors such as Infin8 Lending. The delayed construction adversely affects the local economy and investor confidence. In the short term, Anjaneyulu may seek debt restructuring or asset sale, while in the long term, the damage to his reputation could hinder future projects. Additionally, Alamo Multifamily Group's unsecured claim adds financial strain, further complicating recovery efforts.

Did You Know?

  • Unsecured Creditor: An unsecured creditor is an individual or institution that lends money without obtaining assets as collateral. This type of creditor is more at risk than secured creditors because their loans are not backed by any specific asset. In the event of bankruptcy, unsecured creditors are paid after secured creditors, which can sometimes result in receiving little to no repayment.
  • Certificate of Occupancy: A certificate of occupancy is a document issued by a local government agency or building department certifying a building's compliance with applicable building codes and other laws, indicating it to be in a condition suitable for occupancy. Without this certificate, a building cannot be legally occupied.
  • Refinance: Refinancing involves replacing an existing debt obligation with a new debt obligation under different terms. The new debt is used to pay off the old debt, often with the goal of securing better interest rates, terms, or both. In the context of bankruptcy, refinancing can be a strategy to manage or restructure debt to facilitate financial recovery.

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