The Real Deal Miami

Lynd buys $49 million in distressed multi-family notes from LNR

November 11, 2011 10:58AM

Real estate investment firm Lynd has purchased the $49 million unpaid
balance for notes on three multi-family properties in Florida. The
properties are located in Tamarac, Miami and Jacksonville, and total 945
units. The seller was Miami Beach-based LNR Property. Lynd has offices
in Miami, San Antonio and Denver. “These were prototypical acquisitions
for us,” said David Lynd, the company’s president and COO. “We have $150
million in equity to spend on distressed real estate in multi-family
space.” Since January, the firm has purchased more than $400 million in
unpaid principal balances on distressed real estate notes. — Alexander Britell