Ginkgo Residential Lands North Carolina Community

Ginkgo Residential has acquired the 600-unit apartment community Glendare Park Apartments in Winston-Salem, N.C.

By Adelina Osan, Associate Editor

Ginkgo Residential recently announced the acquisition, through its investment affiliate, of an apartment community located in Winston-Salem, N.C.

Glendare_ParkGlendare Park Apartments features 600 one-, two- and three-bedroom townhomes and garden-style apartments on a 36.119-acre property constructed in three phases between 1969 and 1972. Rents in the community start at $480 for a 676-square-foot, one-bedroom unit and reach $960 for a 1405-square-foot, three-bedroom unit.

Located at 399 Village Crossing Lane, the property is situated in close proximity to downtown Winston-Salem and the city’s top employers, and offers easy access to US I-40 and Highway 421. Glendare Park Apartments provides a range of amenities for locals such as a clubhouse with a 24-hour fitness center, a business center, three swimming pools including an Olympic-sized lap pool, four lighted tennis courts, pergola with grills and a children’s playground.

“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,” said Philip Payne, CEO of Ginkgo Residential.

Image courtesy of MultifamilyBiz.com

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