MIAMI-In February, Lynd Co.’s sister company, Easton Lynd, purchased $62 million worth of notes on 14 office, industrial and retail properties across eight states. Now, Lynd is closing the year with another $49 million worth of multifamily notes.
Lynd just snapped up the unpaid principal balance on three notes for three multifamily properties in Florida. The properties are in Tamarac, Miami and Jacksonville and include 945 units. The seller was LNR Property LLC. Lynd paid cash for the notes and closed within five days of going to contract.
“All three properties were located in submarkets with strong fundamentals,” David Lynd, president and COO of Lynd Co., tells GlobeSt.com. “Occupancies at all three properties were in the low- to mid-90% range.”
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