CHARLOTTE, NC – Ginkgo Residential bought The Preserve at Pine Valley, a 219-unit garden-style apartment community in Wilmington, NC, for $32.1 million in an all-cash transaction. Built in 1974, the property aligns with Ginkgo s value-add strategy, which focuses on the preservation of workforce housing through curb appeal, replacement of aged infrastructure elements, amenity enhancements, and interior renovations. The acquisition was completed in a joint venture between Ginkgo REIT Inc. and J.P. Morgan Real Estate Income Trust.
We remain actively engaged in identifying value-enhancing opportunities for shareholders and anticipate an accelerated acquisition pace this year, with a looming wave of multifamily loan maturities in 2025, said Bill Green, Co-CEO and Principal of Ginkgo Residential.
Located in the heart of Wilmington, the property benefits from strong demographic tailwinds. The city was the 6th fastest-growing MSA in the U.S. from 2020 to 2023, adding roughly 38 new residents per day. Over the next five years, Wilmington is projected to grow by another 10,000 residents annually. Employment has also surged 13.6% over the past five years, more than double the 5.2% national average.
This acquisition is a prime example of our strategy in action—identifying well-located, underperforming assets where we can make meaningful value for both residents and investors, said Kiel Bollero, Director of Acquisitions at Ginkgo Residential.
The property will be owned within Ginkgo REIT Inc., which has delivered an 11.8% annualized total return since its inception in July 2019. The REIT aims to provide investors with stable, tax-efficient income and long-term capital appreciation.

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CONSHOHOCKEN, PA – Morgan Properties, the nation s largest private owner of multifamily communities, has bought a portfolio of 3,054 units across 11 assets in eight Midwest states from Trilogy Real Estate Group. This acquisition, valued at $501 million, marks a significant milestone in the firm s 40-year history as it expands Morgan Properties apartment holdings to over 100,000 units nationwide while continuing to broaden its presence throughout the Midwest.
Surpassing 100,000 units is a defining moment and a testament to the hard work and dedication of our entire organization, who have helped shape Morgan Properties into a best-in-class multifamily owner and operator, said Jonathan Morgan and Jason Morgan, Co-Presidents of Morgan Properties. As we continue to strategically expand our national portfolio, we remain selective and opportunistic in this environment. Morgan Properties has a proven track record of acquiring large portfolios with significant barriers to entry and providing execution certainty.
The communities, located in Illinois, Indiana, Kentucky, Michigan, Missouri, Ohio, Oklahoma, and Tennessee, range in age from 1989 to 2018 and are exceptionally well-located within their respective submarkets.
Morgan Properties has outlined a comprehensive value-add strategy aimed at increasing the marketability and comfort of these properties through physical and operational improvements. Enhancements will include programmatic interior upgrades consisting of new flooring, appliances, cabinets, and countertops, as well as smart home features and an expansion and refresh of on-site amenities.
Morgan Properties now owns and operates over 360 communities in 22 states throughout the country. Through a series of key portfolio acquisitions, the largest of which was a $2.6 billion buy of 98 communities, the firm’s apartment holdings have more than doubled in the past 6 years under the leadership of Jonathan and Jason Morgan.

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ORLANDO, FL – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, hosted a ribbon cutting for Standard441, a new 300-unit multifamily community in the Orlando suburb of Lady Lake. The first residents started moving in during winter of 2024, with construction completion expected at the end of this summer.
“We’re proud to introduce Standard441 as the newest addition to the Lady Lake community,” said Angie Atkins, senior vice president of community management for Thompson Thrift. “This thoughtfully designed community reflects our commitment to making comfortable, connected living environments that enhance residents’ daily lives and contribute to a vibrant neighborhood.”
Located off Highway 441 on the northeast side of The Villages master-plotted community, the 15.26-acre community will offer one-, two- and three-bedroom apartment homes in three-tale buildings. The apartment homes will feature hardwood-style flooring, stainless steel appliances, patio and balcony options, private yard options, upgraded unit options, detached garages and a full-size washer and dryer. Each home will also feature Alexa-compatible smart home packages.
Luxury living will continue throughout the gated community, including a fully equipped fitness center with 24-hour access, resort-style heated swimming pool and outdoor spa, outdoor pool pavilion with a built-in fireplace and grills, pickleball court, putting green and cornhole area, dog park and pet spa, 24-hour social hub, work from home focus suites and electric vehicle charging.
The site is across the street from UF Health The Villages® Hospital, which is the largest and most comprehensive healthcare provider in the region. Nearby Highway 441, which is the main thoroughfare for The Villages, provides residents with convenient access to nearly 3 million square feet of retail, dining and entertainment options, as well as other major employers including Arcosa, Ash Grove, Advent Health Ocala and the U.S. Department of Justice.
The Villages MSA was the #1 fastest-growing metropolitan area in the U.S. during the past decade and projections indicate that the area has the potential to double in total size in coming years.
At the ribbon-cutting ceremony, visitors had the opportunity to tour the model and explore the professionally decorated clubhouse and community amenities. As part of Thompson Thrift’s ongoing commitment to community engagement, they presented a check to the local chapter of Habitat for Humanity to aid their efforts in providing affordable housing for families in need.

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