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Lynd Acquires $49M Worth of Distressed Multifamily Notes

MIAMI-Lynd Co. COO David Lynd tells GlobeSt.com's Jennifer LeClaire he expects more opportunity to come down the pike in 2012--and his firm has cash to spend.

By Jennifer LeClaire | Updated on November 13, 2011

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.

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