Lynd Purchases Distressed Portfolio for $80 Million

Osceola Ridge Apartments in Tallahassee, Fla., was included in the portfolio Osceola Ridge Apartments in Tallahassee, Fla., was included in the portfolio

The portfolio contains nine properties totaling 1,785 units.

Tallahassee, Fla. — San Antonio-based Lynd has purchased an $80 million portfolio of distressed student housing properties in Tallahassee from Florida-based LNR Property for an undisclosed price. The portfolio contains nine student apartment buildings, seven of which are distressed notes and two of which are bank-owned properties, totaling 1,785 units and 1.75 million square feet. The properties were listed and marketed by Holliday Fenoglio Fowler's New York office.

— Savannah Duncan

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