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Ginkgo Residential Acquires 310-Unit Kelston Apartments in the Charlotte MSA

Written by Customer Service on . Posted in Mergers And Acquisitions.

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A pure play on workforce residential rental housing in two of the most dynamic population growth states – North & South Carolina
A pure play on workforce residential rental housing in two of the most dynamic population growth states – North & South Carolina

CHARLOTTE, N.C., Nov. 18, 2025 (GLOBE NEWSWIRE) — Ginkgo Residential (“Ginkgo”) announced that it has acquired The Kelston Apartments, a 310-unit multifamily community located in East Charlotte, North Carolina. The acquisition further strengthens Ginkgo’s presence in the Charlotte metropolitan area, where the company now owns approximately 2,000 units across its growing portfolio.

Positioned near the transformative Eastland Yard redevelopment, a public-private partnership of an 80-acre multi-phase mixed use development designed to revitalize the former Eastland Mall property. The Kelston Apartments offer immediate operational and value-enhancement opportunities in a rapidly developing corridor of the city. Ginkgo plans to modernize unit interiors, enhance community spaces, and improve on-site amenities to better serve the area’s expanding renter base.

“Charlotte continues to be a core pillar of our long-term strategy. Our scale in this region allows us to operate with meaningful efficiencies, and Kelston is a strong fit for our portfolio,” said Kiel Bollero, Director of Acquisitions at Ginkgo Residential.

To capitalize the transaction, Ginkgo partnered with Banyan Street Real Estate Funds, LLC (“BSREF”).

“The Carolinas continue to attract new residents at one of the fastest rates in the country, driven by job growth, relative affordability, and strong quality-of-life fundamentals,” said Bill Green, Co-CEO and Principal of Ginkgo Residential. “Those macro tailwinds strengthen our conviction in the region and support the value-creation plan we intend to execute at Kelston.”

The Kelston acquisition aligns with Ginkgo’s strategy of expanding its workforce-housing footprint across the Carolinas. According to recent national migration data, North Carolina and South Carolina rank among the top destinations where Americans plan to move, further reinforcing long-term demand for well-located, moderately priced rental housing.

About Ginkgo Residential
Ginkgo Residential is a leading provider of attainable, eco-friendly apartment communities across North and South Carolina. The firm specializes in acquiring, renovating, and managing high-quality housing while maintaining affordability. Recognized as a Top Workplace since 2020, Ginkgo is committed to both its residents and employees.

For more information, visit www.ginkgores.com.

Check out investment opportunities by visiting www.ginkgovest.com.

Contacts

Media Contact:
Cayla Graffis
cayla.graffis@ginkgomail.com

Investor Contact:
Rada Milenovici
rada.milenovici@ginkgomail.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3e3aaf80-a6c0-4b16-9f33-9b4b99b2c8f8

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