Beaumont, Texas — WINLYND LLC has acquired the distressed bank note on Village at Lamar, a 384-bed student housing community located near Lamar University in Beaumont, and has subsequently taken ownership of the property following a foreclosure auction.
The company plans to invest hundreds of thousands of dollars into renovations, which are expected to be finished in time for the fall semester. The Lynd Company will lease and manage the property. The community offers four-bedroom units, with shared amenities including a pool, fitness center, volleyball court and business center. Terms of the sale were undisclosed.