After moving to Miami in October, the national real estate investment firm Lynd Residential Properties, has purchased a 438-unit apartment complex in Houston, known as Limestone, according to the South Florida Business Journal. Although the price of the sale has not been disclosed, the property in the Forest-Ashwood submarket of Houston had been assessed at just over $14 million.
The seller was California-based Post Investment Group, which originally purchased the property, located at 14723 West Oaks Plaza Street, out of bankruptcy. Last year Lynd’s parent company partnered with Florida Value Partners to acquire a portfolio of 11 multi-family properties with an original loan balance of $200 million. [SFBJ] –Christopher Cameron