Ginkgo Residential has acquired through its investment affiliate the Abbington Place Apartments in Greensboro. The 37.7 acre property features 360 one-, two- and three-bedroom apartments built in 1995 and 1997.
The development has a swimming pool, two tennis courts, a volleyball court, a clubhouse with a fitness center and a community laundry facility.
Financial terms of the agreement weren’t disclosed.
“The acquisition of Abbington continues our focus on the ever growing need for high quality workforce housing,” said Ginkgko Residential Chief Executive Philip Payne. “Abbington is a well-positioned, middle market property that directly fits our investment profile.”
Ginkgo Residential is a Charlotte-based property manager and owner that operates in the Carolinas and Virginia.