Gindi Equities has sold Cedar Ridge Apartments in Gastonia for $13.5 million. The New York City-based investment firm says that Geller Associates purchased that roughly 9-acre property at 1680 Herman Drive.
In the current high-interest rate environment, investors have a unique window of opportunity to acquire multifamily properties at a discount. Deals are available for investors, as long as they enter the market well-informed. As the principal of a family office and co-founder of a privately held real estate investment firm, we are currently allocating into multifamily ahead of other real estate asset classes.
This distinction recognizes Al’s achievements in leadership of the Gindi Equities and ASG Equities organizations as well as his contributions and impact in philanthropy.
The past few years of the real estate market have been like a roller coaster ride. Since Covid, we have seen supply, demand, interest rates and prices shift radically. Times like these would typically call for caution among investors, but opportunities may exist for those who can navigate these complex market conditions effectively.
The multifamily property located at 2701 Homestead Rd in Chapel Hill, NC has been involved in a recent closed transaction. The property consists of 224 units and has been acquired by Gindi Equities.
Ashbrook Village, a 423-unit apartment community in Gastonia, sold for $37.2 million last week to New York-based Gindi Equities.
