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Ginkgo Residential buys Winston-Salem apartments

Charlotte-based property manager and owner Ginkgo Residential has acquired through its investment affiliate the Savannah Place Apartments in Winston-Salem. The 14.7-acre property features 172 one- and two-bedroom units, a swimming pool, a tennis court, a fitness center, grill and picnic areas, and a children’s playground.

Financial terms of the agreement weren’t disclosed.

“Ginkgo Residential continues to focus on the ever growing need for high quality workforce housing. Savannah Place is a well-positioned, middle market property that squarely fits our investment profile. It is an excellent addition to our portfolio,” says Ginkgo Residential Chief Executive Philip Payne.

Ginkgo Residential operates in the Carolinas and Virginia.

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