Ginkgo Residential Announces Purchase of Hawthorne at Commonwealth Apartments

CHARLOTTE, N.C.--()--Ginkgo Residential today announced the acquisition of Hawthorne at Commonwealth Apartments located in Charlotte, North Carolina. The approximately 8 acre property is comprised of 144 one, two and three bedroom townhomes. The property features a swimming pool, fitness center, pet park, and fire pit. Hawthorne at Commonwealth is located in the growing Plaza Midwood neighborhood approximately 4 miles from downtown Charlotte. The property is adjacent to another Ginkgo Residential community, Oak Park at Briar Creek, which is currently undergoing a major interior and exterior renovation. Ginkgo plans to implement a significant capital improvement program at Hawthorne at Commonwealth aimed at upgrading the interiors of the apartment units, notably the kitchens and bathrooms. Following the acquisition of Hawthorne at Commonwealth, the management of Oak Park at Briar Creek and Hawthorne at Commonwealth will be combined to run under one platform.

“Ginkgo Residential is excited to add Hawthorne at Commonwealth to our Charlotte portfolio. The addition of this community expands the variety of options we have to offer to the work force housing market in Charlotte.”

Philip Payne, CEO of Ginkgo Residential stated, “Ginkgo Residential is excited to add Hawthorne at Commonwealth to our Charlotte portfolio. The addition of this community expands the variety of options we have to offer to the work force housing market in Charlotte.”

About 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. For more information on Ginkgo Residential and our communities, visit our website – www.GinkgoRes.com.

Contacts

Ginkgo Residential
Philip S. Payne, CEO
704-944-0100
philip.payne@ginkgomail.com

Release Summary

Ginkgo Residential announces the acquisition of Hawthorne at Commonwealth Apartments located in Charlotte, North Carolina.

Ginkgo Residential