Group buys Denver-area apartment communities
LYND, a national real estate investment, development and management company specializing in the multifamily sector, recently purchased two Denver-area apartment communities as part of a portfolio purchase.
LYND, based in San Antonio, partnered with Florida Value Partners to buy a portfolio of 11 multifamily properties, with a total of 3,241 units, in a court-appointed receivership brokered by CBRE.
The original loan balance for the properties was $200 million. The purchase price was not disclosed.
In the Denver area, it purchased the 220-unit Bluffs at Castle Rock, in Castle Rock and the 208-unit Center Pointe East complex in Aurora.
“We continue to seek opportunities here in Denver and the western U.S. where we can leverage our property management and construction skills to execute value-add strategies for multifamily owners in these markets,” said Samuel J. Kasparek, LYND managing partner and director of the company’s Denver office.
John Rebchook joined the editorial staff of the CREJ in late 2011 to cover Multifamily, Retail and Investment Real Estate. John was an award-winning writer and editor for the Real Estate Section of the Rocky Mountain News from 1983 through 2009. John also covered economic development, banking and other economic news for the paper.
In addition to his work at the Rocky Mountain News John was a founding freelance journalist for GlobeSt.com, covering commercial real estate, and continues to maintain his own real estate blog at insiderealestatenews.com. Rebchook graduated from Southern Illinois University with a degree in journalism.
When not keeping his readers up to date on the latest in commercial real estate news, John loves to spend time with his wife and daughter, and has run more than 40 marathons.