Miami and San Antonio, Texas — Having purchased 18 properties in 2011, Lynd, a national real estate firm co-located in Miami and San Antonio, Texas, has launched a student housing division. Lynd Student Housing will initially have 18 properties in its portfolio, valued at $100 million.
“This business has excellent fundamentals behind it because having a college education is a must to compete in today’s world,” said company president and chief operating officer A. David Lynd. “We got involved in student housing because we saw tremendous opportunities coming due to the leverage levels of many assets.”
Lynd also said the company is actively seeking other student housing properties to add to the portfolio. Already one of the country's largest multifamily managers, Lynd now has 3,718 living units with 7,900 beds in its student housing division. The properties are located in seven states, across 15 colleges and universities.
In Tallahassee, Fla., Lynd Student Living hosted two massive summer parties to announce its arrival in the market. More than 3,000 people attended each event, where the division showcased a remodeled property that had a new game room with Wii station and pool tables and an updated weight room with flat-screen TVs and new equipment.
“This gave them a small peek at what it means to live at a Lynd community,” said Jeffrey Weissman, senior vice president of Lynd Student Housing. “Our brand will be known for quality student housing that is always on the cutting edge of amenities and social activities.”
— Randy Shearin