Ginkgo REIT Sells 260-Unit Kimmerly Glen Multifamily Community In Charlotte For $9 Million

The Kimmerly Glen multifamily community is a 260-unit property located at 4908 Endolwood Drive, Charlotte, NC. The asset is part of the multifamily sector, with a focus on providing residential accommodation within its market area.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Not specified
• Units: 260
• Address: 4908 Endolwood Drive
• Market: Charlotte, NC
• Seller: William Green & Eric Stamp - Ginkgo REIT
• Capital unlocked: Approximately $9 million

William Green and Eric Stamp represent Ginkgo REIT in this transaction, which has successfully executed a multi-year value-add strategy involving renovations, operational upgrades, and capital improvements. The proceeds from the sale will be reinvested into higher-yield investment opportunities through a tax-efficient exchange aimed at enhancing shareholder returns.