MIAMI, FL, Nov. 11, 2011— LYND, a national real estate investment and management firm with corporate offices in Miami, San Antonio and Denver, continues to be active in the distressed real estate market.
Most recently it has purchased the $49 million upaid principle balance on three notes for three multifamily properties in Florida. The properties are in Tamarac, Miami and Jacksonville and have a total of 945 units. The seller was LNR Property LLC.
LYND paid cash for the notes and closed within five days of going to contract.
A. David Lynd (top right photo), president and COO, said his company was successful in securing the notes because of its ability to move fast on deals.
“These were prototypical acquistions for us,” said Lynd. “We have $150 million in equity to spend on distressed real estate in the multfifamily space.”
Since January of this year, LYND has purchased more than $400 million worth of unpaid principal balances on distressed real estate notes.
LYND is a family-owned, national real estate company based in San Antonio, Texas with corporate offices in Miami and Denver. LYND develops, manages, finances and invests in multi-family and commercial properties. With more than 36,000 residential units under management in 13 states,
LYND is listed in the Multi Housing Council’s list of the “Top 50 Apartment Managers” in the United States. For more information, visit www.lyndworld.com.
Media Contact:
Todd Templin
Boardroom Communications
954-370-8999 or 954-290-0810
LYND Contact:
A. David Lynd, President & COO
210-364-3964
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