The Lynd Group Sells Houston-Area Apartment Community for $53.9 Million

The Lynd Group has sold a 312-unit apartment community near Houston for $53.9 million- the second disposition of a value-add portfolio asset in that market over the past 30 days.  The Villas at Valley Ranch closed on April 8, approximately nine months after the San Antonio-based real estate company acquired it for $39 million.

The buyer is Houston-based Keener Investments, which specializes in the acquisition and renovation of multifamily assets. The deal was brokered by Berkadia.

Villas at Valley Ranch, which went through extensive renovation and upgrades by Ventura, CA-based Lynd, is located at 21899 Valley Ranch Crossing Dr. in Porter, TX. Built in 2008, Lynd acquired the property in late June 2021 as part of a two-property portfolio. On March 7, 2022, the firm sold the other community, Paramount at Kingwood, on for $61.38 million after buying it for $44.55 million. In total, Lynd paid $83.55 million for the portfolio and sold it for over $115 million in less than a year of hold time.