Ginkgo Residential Acquires The Kelston Apartments in East Charlotte

310-unit community to undergo significant capital improvements and full operational repositioning
thekelston-apts.com

CHARLOTTE NC — Ginkgo Residential is pleased to announce the acquisition of The Kelston Apartments, a 310-unit multifamily community located in the East Charlotte submarket. This closing represents a meaningful expansion of Ginkgo’s regional presence and supports the company’s ongoing strategy of acquiring well-located communities with strong repositioning potential.

“We are excited to welcome The Kelston into the Ginkgo portfolio,” said Kiel Bollero Director of Acquisitions. “This property presents a significant opportunity for value creation and long-term growth. Our team is equipped and ready to execute a thoughtful stabilization and improvement plan.”

The Kelston has experienced long-term deferred maintenance and operational instability under previous ownership. Ginkgo plans to invest approximately $6.5 million to address infrastructure needs enhance asset quality and restore performance. Areas of focus include building system repairs trash compactor replacement water intrusion remediation unit renovations and key maintenance blitz initiatives. The Construction and Property Management teams will begin work immediately to stabilize conditions improve resident experience and restore operational efficiency.

Property Snapshot

Name: The Kelston Apartments
Units: 310
Location: East Charlotte NC
Website: thekelston-apts.com