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Lynd Acquisitions Group has purchased the 266-unit Mayflower Apartments in Virginia Beach, Va., for $43 million. The new client accustomed a $33 actor accretion accommodation from Hunt Real Estate Capital. Newmark Knight Frank abiding the costs on account of the client and represented the seller, Harbor Group International.
Located at 34th Street and Pacific Avenue, the 16-story asset is aural a block of the Atlantic Ocean and abutting to active retail and accommodation corridors. The architecture consists of studio, one- and two-bedroom apartments and a accommodation floor. In accession to its multifamily component, the asset includes on-site parking and 3,140 aboveboard anxiety of ground-floor bartering space, with 11,915 aboveboard anxiety of free-standing retail on an adjoining bindle with off-site parking.
The acreage was congenital in 1950, with antecedent client Fairfield Residential renovating the asset in 2010. Lynd affairs to absorb added than $4.6 actor to advance both accepted areas and units. The adapted apartments will accept stainless animate appliances, quartz countertops and balk floors. Amenities will be upgraded to accommodate Amazon amalgamation lockers and a new fettle center.
Newmark Knight Frank’s aggregation included Executive Managing Director Mike Marshall and Managing Director Henry Stimler, who handled the costs aspect. In July, Stimler placed a $225 actor architecture accommodation for a mixed-use activity in Florida.
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