Lynd Acquisitions Group buys Mayflower Apartments for $43m
Lynd Acquisitions Group acquired Mayflower Apartments in Virginia Beach, Virginia, for $43m. The 16-story, 266-unit property is the only high-rise rental building within a block of the Atlantic Ocean. The new owner will spend $4.6m on capital improvements to both common areas and individual units. The property also includes 3,140 sq ft of ground-floor commercial space, a separate parcel with 11,915 sq ft of free-standing retail as well as on- and off-site parking. Built in 1950, the last renovations to the building were completed in 2010.