(Crystal Proenza is associate editor of Real Estate Florida.)
MIAMI-The Lynd Co., a San Antonio, TX-based property management firm specializing in apartment communities, has opened a regional office at 20201 NE 16th Place. Although the 25-year-old company has small satellite offices near properties it manages in 13 states across the country, this will be its first larger corporate office outside of Texas. The firm plans to target class A and B assets, along with value-add properties.
Andrew Ginsburg, a local real estate executive, has been hired to serve as regional vice president for Lynd. He says there is tremendous growth opportunity in the South Florida apartment market because of supply that had been taken out of rental inventory for conversion to condominiums.
"As those projects have failed, and continue to fail, they create unique challenges and opportunity for management," Ginsburg tells GlobeSt.com. "We think with our advanced technology and customer-centric service, we're well positioned to bring owners solutions for their difficult troubles."
Ginsburg explains that the firm's use of technology includes a management portal for owners called Ultranet. Through the online-based tool, owners of apartment communities can get information that is updated daily about their properties, including leasing and renewal reports, updated income statements, balance sheets, profit and loss statements, expense reports and delinquencies information. Lynd also offers resident-based tools such as a 24-hour call center and the ability to track filed complaints.
Lynd plans to hire up to 18 employees at the Miami office over the next 12 to 18 months. Ginsburg will lead the team along with property managers and other leasing, maintenance and assistant managers out in the field.
"Our plans are to grow throughout the tri-county region, then reach the entire state and from there jump up the East Coast," he says. Eventually the company may also open a larger corporate office in Downtown Miami, he adds.
Ginsburg joined Lynd from Fort Lauderdale-based Aqua Marine Partners, where he served as director of acquisitions and development. Previously he was a land development manager for Coscan Homes and a project manager and acquisitions analyst for Toll Bros.
Lynd currently manages 35,000 apartments in 41 markets, primarily in Texas and the Southeast. The firm manages only one property in Florida: Bristol Place in Tampa, a 340-unit community at 15210 Amberly Drive that is currently 91% occupied.
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