Ginkgo Residential Announces Acquisition of 647-Unit, Five-Property Portfolio in Charleston MSA

CHARLOTTE, N.C.--(BUSINESS WIRE)--Ginkgo Residential today announced that it has acquired a five-property multifamily portfolio totaling 647 units across the Charleston, South Carolina metropolitan area. The off-market opportunity marks a continuation of Ginkgo’s strategic focus on high-growth, high-barrier-to-entry Southeastern markets and represents the company’s second acquisition in 2025.

The multifamily communities include: Brackenbrook Apartments (168 apartments), North Bluff Apartments (144 apartments), The Landing (119 apartments), Sawbranch Apartments (112 apartments) and Woodlocke Apartments (104 apartments).

The acquisition was completed in a joint venture between Ginkgo REIT Inc. and J.P. Morgan Real Estate Income Trust, Inc. (JPMREIT).

Originally developed between 1975 and 1985, the portfolio has been owned and professionally managed by the same group for many decades. The properties are located in established workforce housing submarkets with strong proximity to major area employers such as Boeing, Mercedes-Benz Vans, and Trident Health. The communities are currently 93.5% occupied and average 991 square feet per unit.

The prior ownership invested heavily in long-term capital improvements. Ginkgo plans to build on this strong foundation by creating a strong resident experience and better positioning the assets within their respective competitive set.

“This is a portfolio we’ve been tracking for several years, and we’re excited to have the opportunity to acquire it. Its long-term ownership and strong physical condition provide a rare foundation for both operational improvement and long-term value creation,” said Bill Green, Co-CEO and Principal at Ginkgo Residential.

The Charleston MSA continues to exhibit strong housing fundamentals, bolstered by consistent population and job growth. According to the U.S. Bureau of Labor Statistics, the Charleston MSA added approximately 43 jobs per day from 2023 to 2024. Concurrently, U.S. Census Bureau data shows that the area welcomed an average of 50 new residents per day during the same period—further underscoring the demand for quality housing options. Apartment absorption in 2025 is expected to exceed new deliveries for the first time since 2021, a trend expected to continue as future supply additions moderate.

“These communities have been very well maintained, and with our proven operating platform, we believe we can unlock significant additional value while continuing to serve the growing demand for quality housing in Charleston,” said Kiel Bollero, Director of Acquisitions at Ginkgo Residential.

This acquisition follows Ginkgo’s recent purchase of a 219-unit multifamily community in Wilmington, N.C., as the company continues to execute its value-add investment strategy across the Southeast.

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.

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