redIQ Deal Highlight: Lynd Acquires Lakes of Margate
redIQ Deal Highlight: Lynd Acquires Lakes of Margate
redIQ would like to congratulate the team at California-based Lynd for finalizing the acquisition of the Lakes of Margate community in Broward County, Florida for approximately $51 million. The 280-unit asset was purchased from a JV between Grand Peaks Properties and the Lightstone Group. Lynd received financing from Wells Fargo. Lakes of Margate last sold in 2011.
Broward County, part of the Miami metropolitan area, has experienced an influx of workers from elsewhere, including traders and bankers swapping Wall Street for beach views. Other recent transactions in the area include the sale of a large portfolio by Amzak Capital Management and the Focus Group to DASMEN Residential. redIQ delivers a competitive edge to a number of clients in the Florida market, including an office of a large national broker — find out more about their experience here.
About redIQ
Since 2012, redIQ has led in the multifamily analytics and underwriting software space. Six of the top ten acquisitions teams and eight of the top ten brokerages rely on redIQ daily. Every year, more than 30% of all multifamily transactions pass through the platform. Our platform allows CRE professionals to extract and standardize data from deal financials instantaneously, gain deep insights into every property, and generate a comprehensive underwriting, with our model or their own. Our robust set of features includes floor plan summaries, cash flow analysis, hyperlocal comp sets, easy deal sharing, preset assumptions underwriting templates, and more. redIQ will always provide better insights and faster underwriting. These empower our users to make smarter investment decisions.
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