CHARLOTTE, NC – Ginkgo Residential announced that it has bought a five-property multifamily portfolio totaling 647 units across the Charleston, South Carolina metropolitan area. The off-market opportunity marks a continuation of Ginkgo s strategic focus on high-growth, high-barrier-to-entry Southeastern markets and represents the company s second acquisition in 2025.
The multifamily communities include: Brackenbrook Apartments (168 apartments), North Bluff Apartments (144 apartments), The Landing (119 apartments), Sawbranch Apartments (112 apartments) and Woodlocke Apartments (104 apartments).
The acquisition was completed in a joint venture between Ginkgo REIT Inc. and J.P. Morgan Real Estate Income Trust, Inc. (JPMREIT).
Originally developed between 1975 and 1985, the portfolio has been owned and professionally managed by the same group for many decades. The properties are located in established workforce housing submarkets with strong proximity to major area employers such as Boeing, Mercedes-Benz Vans, and Trident Health. The communities are currently 93.5% occupied and average 991 square feet per unit.
The prior ownership invested heavily in long-term capital improvements. Ginkgo plans to build on this strong foundation by making a strong resident experience and better positioning the assets within their respective competitive set.
This is a portfolio we ve been tracking for several years, and we re excited to have the opportunity to buy it. Its long-term ownership and strong physical condition provide a rare foundation for both operational improvement and long-term value creation, said Bill Green, Co-CEO and Principal at Ginkgo Residential.
The Charleston MSA continues to exhibit strong housing fundamentals, bolstered by consistent population and job growth. According to the U.S. Bureau of Labor Statistics, the Charleston MSA added approximately 43 jobs per day from 2023 to 2024. Concurrently, U.S. Census Bureau data shows that the area welcomed an average of 50 new residents per day during the same period—further underscoring the demand for quality housing options. Apartment absorption in 2025 is expected to exceed new deliveries for the first time since 2021, a trend expected to continue as future supply additions moderate.
These communities have been very well maintained, and with our proven operating platform, we believe we can unlock significant additional value while continuing to serve the growing demand for quality housing in Charleston, said Kiel Bollero, Director of Acquisitions at Ginkgo Residential.
This acquisition follows Ginkgo s recent buy of a 219-unit multifamily community in Wilmington, N.C., as the company continues to do its value-add investment strategy across the Southeast.

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MIAMI, FL – FCP bought District West Gables, a 427-unit midrise apartment community in West Miami, FL. The acquisition marks FCP’s third investment in South Florida within the past nine months, underscoring the firm’s continued momentum and conviction in one of the nation’s most dynamic rental markets.
“Executing in today’s environment requires conviction and capital, and FCP is proud to continue expanding in South Florida with a high-quality core-plus asset in Miami-Dade,” said Bruce Gago, Senior Vice President at FCP and head of the company’s Florida investments. “Despite a challenging capital markets environment, we continue to deploy capital into markets where we see long-term fundamentals driving durable demand. Miami-Dade—and West Miami in particular—offers exceptional demographic and employment tailwinds that align with our investment strategy.”
FCP plans to implement a value-enhancement program focused on modernizing common areas and amenities while executing renovations on unit interiors. The company has engaged Greystar as property manager to support operational execution and leasing performance.
District West Gables provides residents with direct access to Miami’s key employment nodes, including the University of Miami, Florida International University, Miami International Airport, and Brickell/Downtown. The property is located less than three miles from Coral Gables’ vibrant downtown and Miracle Mile retail corridor.
Built in two phases (2015 and 2017), District West Gables comprises studio, one-, two-, and three-bedroom residences in mid-rise structures with structured parking. The community features a robust amenity package, including two resort-style pools, dual fitness centers, EV charging stations, a movie theater, cabana-lined sun decks, and expansive resident lounges.
This transaction reinforces FCP’s ability to identify and close on high-conviction assets, even amid market volatility, and further establishes the firm’s footprint in Florida—a region where it continues to actively seek new opportunities across the risk spectrum.
FCP extends its appreciation to Hampton Beebe of Newmark for his representation of the seller and to Matt Williams, Daniel Matz, and Rob Wright of Newmark for their representation of FCP in securing financing.

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ATLANTA, GA – ECI Group celebrated the groundbreaking of The Averly Richmond Hill, a $60 million, 291-unit, mixed-use development with retail acreage along Ford Avenue in Richmond Hill, GA. ECI Construction is the general contractor, with construction financing provided by Synovus and CIBC, and will deliver pad ready retail sites in Q1 2026 for tenants. ECI has been active in the Savannah Metro since 2015, having constructed one project and bought another.
Ashley Smith and Tyler Mouchet of Colliers | Savannah have been selected to market the 3.5+ acres of retail pad sites, which are available for ground lease. Behind the commercial acreage, ECI is constructing 291 residential units, composed of 243 one-, two-, and three-bedroom apartment residences along with 48 three-bedroom, two-car garage townhome residences.
“We are very excited to go forward on this mixed-use development,” said ECI Vice President of Development, Stephen Stover. “We feel strongly that continued job growth across the Savannah MSA, particularly in the industrial and logistics sectors, as well as population growth in the affluent Richmond Hill submarket, offer an exciting opportunity for retailers to locate on our site.”
“Richmond Hill is one of the most dynamic and rapidly growing submarkets in the Savannah region, and The Averly Richmond Hill presents a rare opportunity for retailers to secure high-visibility frontage along Ford Avenue,” said Tyler Mouchet, Associate Vice President at Colliers | Savannah. “With strong population growth, proximity to major employers, and exceptional access to I-95, this project is ideally positioned to attract a diverse mix of tenants to serve the surrounding community.”
The Averly Richmond Hill is located less than one mile from I-95 in the center of Richmond Hill’s growing retail and commercial district, with direct access to primary highways and area job centers. Major local employers include Hyundai, Gulfstream, Georgia Ports, and Fort Stewart. The community’s younger residents can attend Richmond Hill’s highly rated school district.

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