SAN ANTONIO, TX - One year after a leadership transition at the San Antonio, Texas-based real estate investment company LYND, the firm is poised for explosive growth this year following a strong 2018.
With the appointment of A. David Lynd as CEO, the 40-year old company achieved several important accomplishments particularly in its development and investment business. LYND also hit a milestone in August when it began construction on a new 35,000 square-foot state-of-the-art headquarters in suburban San Antonio that will open late next year. A. David Lynd took over the reins of the company following 17 years as Chief Operating Officer.
Overall in 2018, LYND acquired 4,665 multifamily units throughout Texas, Florida and Illinois valued at nearly $300 million and performed more than $23 million worth of value add rehab work. Some key investments include 1,031 apartments in the Florida Panhandle and a 384-bed student housing community in Beaumont, Texas, both with a new partner out of Chicago. Currently, the Texas-based multifamily firm has more than $190 million worth of apartment acquisitions under contract in three states.
Also this year, LYND developed more than $72 million worth of property including $67 million in new apartments and $5 million in commercial product. Most significant is a 272-unit Class A multifamily community in College Station which should be completed within the next year. There is also $107 million worth of new development in the pipeline in San Antonio and Las Vegas.
On the operations side, LYND added 4,700 new third-party management assignments which is a core service for the company.
“This being a leadership transition year, I am more than thrilled for what our team has accomplished in 2018,” said Lynd. “I feel blessed to be surrounded by great professionals who are dedicated to their jobs and our company, and it shows in the results. I look forward to what we can accomplish together in 2019.”
About LYND: Headquartered in San Antonio, TX, Lynd is a privately-held, national real estate company that specializes in third-party management of multifamily real estate assets. Managing approximately 23,000 apartment units in 11 states, Lynd ranks as one of the premiere multifamily management companies in the country. For more information, visit www.lynd.com