Ginkgo Purchases Salem Crest in Winston-Salem

From Ginkgo’s press release:

Ginkgo Residential today announced the acquisition of Salem Crest Apartments located in Winston-Salem, North Carolina, for a contract price of $4,250,000. The approximately 17 acre property contains 144 one, two, and three bedroom apartment homes. The property also includes a swimming pool, playground, and ample walking areas.

Philip Payne, CEO of Ginkgo Residential stated, “Salem Crest represents the latest addition to Ginkgo Residential’s rapidly growing portfolio of high quality, modestly priced apartment properties. With the acquisition of Salem Crest, Ginkgo now operates four properties housing over 500 families in the Winston-Salem market. Ginkgo is committed to, and intends to continue to expand its operations in, the Winston-Salem area.”