Ginkgo REIT Announces Sale of Weyland Apartments in Charlotte, NC

CHARLOTTE, N.C.--(BUSINESS WIRE)--Ginkgo Residential today announced the successful sale of Weyland Apartments, a 200-unit garden-style multifamily community in Charlotte, North Carolina, for $29.3 million.

Strategically situated between the Wilkinson Boulevard and Freedom Drive corridors, the property offers residents direct access to major employment centers, including the West Charlotte Corridor, Uptown, South End, and nearby medical hubs.

Ginkgo Residential sponsored the acquisition of the asset in June 2018 for $12.0 million and subsequently transferred the management interest and the corresponding performance fees to Ginkgo REIT. The asset was owned in partnership with Banyan Street Real Estate Funds and other side car investors. Since acquisition, the property has undergone significant value-add initiatives including interior unit renovations, the construction of a new clubhouse, and operational improvements. The surrounding FreeMoreWest submarket has seen a surge in capital investment and new development, contributing to upward pressure on rents and positioning Weyland Apartments to benefit from the area's ongoing growth.

Strong investor interest in the property reflects the increasing demand for well-located, high-quality multifamily assets across the Southeast, especially in markets like Charlotte where supply remains more balanced compared to other Sun Belt cities. The sale delivered attractive returns to Ginkgo REIT investors and further reinforces the firm’s reputation for performance-driven execution.

“The Carolinas continue to offer a compelling backdrop for multifamily investment, with strong fundamentals including wage growth and population inflows, coupled with moderating new supply,” said Bill Green, President of Ginkgo REIT and Principal of Ginkgo Residential. “We remain focused on executing our strategy of value creation and timely exits to generate compelling results for our investors.”

The transaction marks Ginkgo REIT’s first disposition of 2025. Ginkgo was represented by the CBRE Southeast Multifamily Team led by Kevin Kempf and John Phoenix.

Ginkgo Residential continues to focus on identifying high-potential investment opportunities, enhancing its communities, and delivering meaningful value to residents, partners, and team members.

About Ginkgo Residential

Ginkgo Residential is a leading provider of attainable, eco-friendly apartment communities across North and South Carolina. The firm specializes in acquiring, renovating, and managing high-quality housing while maintaining affordability. Recognized as a Top Workplace since 2020, Ginkgo is committed to both its residents and employees.

For more information, visit www.ginkgores.com.

To learn about current investment opportunities, visit www.ginkgovest.com.