April 24, 2025
CHARLOTTE, NC - Ginkgo Residential acquired The Preserve at Pine Valley, a 219-unit garden-style apartment community in Wilmington, NC, for $32.1 million in an all-cash transaction. Built in 1974, the property aligns with Ginkgo’s value-add strategy, which focuses on the preservation of workforce housing through curb appeal, replacement of aged infrastructure elements, amenity enhancements, and interior renovations. The acquisition was completed in a joint venture between Ginkgo REIT Inc. and J.P. Morgan Real Estate Income Trust.
“We remain actively engaged in identifying...