Ginkgo Residential Announces Purchase of 81-Unit Mixed-Use Matthews Lofts in North Carolina

CHARLOTTE, NC - Ginkgo Residential announced the acquisition, through its investment affiliate, of Matthews Lofts located in Matthews, North Carolina. The property is a mixed-use condo development comprised of 81 one and two-bedroom apartments, plus 8,084 square feet of commercial space.

The commercial tenants include The Big Idea, Rocky Mountain Chocolate Factory, Wayback Burgers and 9Round Kick Boxing. Matthews Lofts has easy access to the entire Charlotte market through I-485 and Independence Boulevard, a major artery connecting Matthews to uptown Charlotte.

“We are excited about adding our first higher-end, mixed-use property to our portfolio. While Matthews Lofts represents a new concept for Ginkgo, its location in downtown Matthews, its proximity to employment, health care, and entertainment opportunities, and the walkability offered by the site are all consistent with Ginkgo’s core principles. Ginkgo will continue to focus primarily on single-purpose workforce housing properties, especially those involving significant rehabilitation potential; however, we believe the addition of Matthews Lofts will add diversity and stability 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.

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