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Ginkgo Residential buys Winston-Salem apartment

CHARLOTTE – Ginkgo Residential, a local commercial real estate company, has paid $4.25 million for a 144-unit apartment project in Winston-Salem, called Salem Crest Apartments, according to a news release from the company.

The 17-acre Salem Crest is a mix of one-, two- and three-bedroom apartments, and the property also has a swimming pool, a playground and plenty of walking areas, the release says.

“Salem Crest represents the latest addition to Ginkgo Residential’s rapidly growing portfolio of high quality, modestly priced apartment properties,” Philip Payne, Ginkgo’s CEO, said in the release. “With the acquisition of Salem Crest, Ginkgo now operates four properties housing over 500 families in the Winston-Salem market.”

Ginkgo is focused on combining the core business of providing reasonably priced, high-quality workforce housing with energy-efficient programs that are environmentally sensitive, according to the company. Ginkgo operates apartment communities primarily in the Southeast and owns 15 apartment communities in North Carolina in addition to Salem Crest, according to the company’s website.

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