Ginkgo Residential Announces Purchase of Glendare Apartments

CHARLOTTE, N.C.--()--Ginkgo Residential today announced the acquisition, through its investment affiliate, of Glendare Park Apartments located in Winston-Salem, North Carolina. The approximately 36.119 acre property is comprised of 600 one, two and three bedroom townhomes and garden style apartments that were originally constructed in three phases between 1969 and 1972. The community features three swimming pools, including an Olympic-sized lap pool, a children’s pool and a freeform pool with sundeck; four lighted tennis courts, sand volleyball court, clubhouse with a fitness center, business center and community laundry facility; car care center, pergola with grills and a children’s playground. Glendare is located approximately seven miles from downtown Winston-Salem with close proximity to major employers in the area and has easy ingress and egress to US I-40 and Highway 421.

“Ginkgo is fortunate to be able to add Glendare to its portfolio. As a high quality workforce housing property that is affordable to moderate income families, it is a perfect fit for us. The property is in excellent condition and has ready access to a wide range of employment, retail and entertainment facilities,” states Philip Payne, CEO of Ginkgo Residential.

About Ginkgo Residential

Ginkgo Residential is an industry leader focused on combining our core business of providing reasonably priced, high quality workforce housing with energy efficient programs that are environmentally sensitive. Ginkgo Residential is a significant operator of apartment communities located primarily in the Southeast region of the United States. For more information on Ginkgo Residential and our communities, visit our website – www.GinkgoRes.com.

Contacts

Ginkgo Residential
Philip S. Payne, CEO, 704-944-0100
philip.payne@ginkgomail.com

Contacts

Ginkgo Residential
Philip S. Payne, CEO, 704-944-0100
philip.payne@ginkgomail.com