Ginkgo Acquires 483-Unit Greensboro Rental Property
Ginkgo Residential paid nearly $39 million for Edgewater Village, a Greensboro apartment complex at 5509 Weslo Willow Drive, for $38.75 million in May. The property was built in 1974, has three stories, 483 units and offers leases ranging from 4 to 18 months. The seller’s name was not disclosed.
Edgewater Village is just off of West Market Street, near the intersection between I-40 and I-73 and about five miles west of the Piedmont Triad International Airport.
The complex offers studio, one-bedroom and two-bedroom units with one bathroom each. The units range in size from 491 square feet to 916 square feet. Monthly rents range from $939 to $1,139 for studios, from $959 to $1,229 for one-bedroom units and from $1,054 to $1,289 for two-bedroom units. Its amenities include a basketball court, pool, walking and biking trails, dog park, patio, business center, grilling center and multiple lakes with fishing decks.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout