Colorado Asset Changes Ownership in $47M Deal
Lynd Acquisitions Group purchased a 288-unit community in Colorado Springs, which has seen increased in-migration during the pandemic. Dec232020 Image courtesy of Lynd Acquisitions Group
Lynd Acquisitions Group has expanded its multifamily portfolio with the Village at Lionstone Apartments, a garden-style apartment community directly east of downtown Colorado Springs, Colo. The cost of the acquisition was $46.7 million. According to Yardi Matrix data, the previous owner was American Capital Realty Group, which bought the asset in 2017 for $40.5 million from AllPro Capital.
Lynd anticipates undertaking a value-add plan that will bring upgrades to the property’s living spaces and common areas.