JACKSONVILLE, FL - Lynd Acquisitions Group (LAG), a division of The Lynd Group, and its JV partner Topaz Capital, sold a 444-unit value-add multifamily asset in Jacksonville for $66 million just three years after acquiring it for $35.15 million.
The partnership invested approximately $5 million updating both living spaces and common areas. They renovated approximately 75% of the units, increasing average rents from $783 per month to $1,078 per month at the time of closing.
“When we.
SAN ANTONIO, TX - The Lynd Group announces that it has sold a 312-unit apartment community near Houston for $53.9 million- the second disposition of a value-add portfolio asset in that market over the past 30 days. The Villas at Valley Ranch closed on April 8, less than nine months after the San Antonio-based real estate company acquired it for $39 million. Lynd invested hundreds of thousands of dollars in renovations and upgrades.
The buyer is Houston-based Keener Investments, a fully.
FORT LAUDERDALE, FL - Just eight months after acquiring a 280-unit garden-style apartment complex northwest of Fort Lauderdale, Lynd Living has sold the asset for $66.50 million. That amounts to $15.50 million more than the $51.00 million price paid on March 17, 2021. Lynd Living CEO David Lynd said the decision to sell now was not easy, but feels the time was right to maximize value due to the hot real estate market.
“Values in South Florida have really skyrocketed since the pandemic.
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.