DURHAM, NC – Ginkgo Residential announced the acquisition, through its investment affiliate, of Willowdaile Apartments located in Durham, North Carolina, which transaction closed May 11, 2017.
The approximately 16.51-acre property is comprised of 201 one, two, and three-bedroom garden style apartments, and features a swimming pool, laundry facility and leasing office.
Willowdaile is located just 4 miles from the center of Duke University’s campus and 5 miles from downtown Durham. It is also located less than 2 miles from Croasdaile Apartments, which Ginkgo purchased in mid-2016.
“Ginkgo Residential is excited to expand our presence in the Durham market. With the addition of Willowdaile Apartments, Ginkgo now has 473 units in close proximity of Duke University and downtown Durham. Willowdaile is also an excellent fit with Ginkgo’s focus on workforce housing. We are very pleased to have the opportunity to add Willowdaile to our portfolio,” states Philip Payne, CEO of Ginkgo Residential.
Ginkgo Residential is an industry leader focused on combining our core business of providing reasonably priced, high quality workforce housing with energy efficient programs that are environmentally sensitive. Ginkgo Residential is a significant operator of apartment communities located primarily in the Southeast region of the United States.