The Lindsey Manor apartment complex in Kernersville has been sold for the second time in just more
than three years, this time for $34 million to a California group.
Gindi Equities has acquired Timber Creek Apartment Homes in Fargo, N.D., and plans a value-add improvement program for the property. This purchase marks the company’s second acquisition within the market. Built in 2015, Timber Creek is a 252-unit, three-story property. Its seven buildings are spread over 13 acres.
Gindi Equities has sold Greenview Meadows in Gastonia for $14.5 million. The New York City-based investment firm says that apartment complex includes 109 units. It sits on nearly 8 acres at 1613 Greenview Drive. The price tag breaks down to approximately $133,000 per apartment.
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.
Gindi Equities has acquired Osgood Townsite Apartments, a 243-unit community in Fargo, N.D., making its debut in the local market. Property Resources Group sold the asset, but will remain in charge of management. The buyer plans to revamp the property.
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