Friday, March 6, 2009

The Lynd Co. Acquires 50% Stake in Easton Group's Property Management Division

MIAMI – The Lynd Company, a top national property management firm with an office in South Florida, has acquired a 50 percent interest in Easton Management, both companies announced.

Easton Management is the property management division of Doral, Florida-based The Easton Group, founded and chaired by Edward W. Easton (top right photo).

The new company will be known as Easton Lynd Management and will be a subsidiary of the Lynd Company.

As of February 1, The Lynd Company assumed management control of seven-million-plus square feet of commercial and association property that had been developed and managed by Easton. Most of the assets are industrial and warehouse properties.

Going forward, Easton Lynd Management will provide third-party commercial property management services in Florida and 13 other states where The Lynd Group currently has a footprint.

The Lynd Company manages medium and large size apartment complexes and has 35,000 units under management, primarily in Texas and the Southeast. The company is ranked as the 35th largest national operator on the Multi Housing Council’s list of “Top 50 Apartment Managers” in the United States for 2008.

Easton Management is the 8th largest commercial property management company in South Florida based on the latest figures from the South Florida Business Journal. Both companies have been family-run for more than 30 years.

The partnership gives The Lynd Company a new platform to grow its business in South Florida where it opened an office last summer, said Lynd Regional Vice President Andrew Ginsburg.

Lynd President and COO David Lynd said his company is now two thirds on its way toward creating a full-service management platform for industrial, office, retail, and condominium association, and apartments.

“This was the next step in our expansion plan, both in asset class and geographic location,” said Lynd.

“Since we wanted to enter the Florida market in a big way, partnering with Easton Management accomplished both goals in one transaction. Ed Easton has an incredible track record and reputation in South Florida and we couldn’t be any more excited about partnering with him.”

Lynd Easton Management will benefit from the technology and protocols pioneered by The Lynd Group and the commercial real estate expertise of Ed Easton.
(David Lynd, left and brother Michael, vice president, investments, bottom left photo)

”This deal fits perfectly with our strategy of joint venturing with companies that are a natural complement to our business,” said Easton. “We have always managed assets that we bought or developed, but with Lynd as our partner, we’ll now be able to grab a bigger piece of the market, both regionally and nationally.”

Todd Templin or Marielle Sologuren, Boardroom Communications, 954-370-8999 or

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