Ginkgo Residential has acquired Edgewater Village, a large rental community in Greensboro, for $38.75 million. The transaction, which closed in May, adds a 483-unit multifamily property to Ginkgo Residential’s portfolio. The seller was not identified in public records associated with the sale, and no additional transaction terms were disclosed.
Edgewater Village is located at 5509 Weslo Willow Drive in Greensboro, just off West Market Street. The property sits near the junction of Interstate 40 and Interstate 73 and is approximately five miles west of Piedmont Triad International Airport. The location provides regional highway access as well as proximity to one of the area’s primary transportation hubs.
Originally built in 1974, the three-story community consists of studio, one-bedroom, and two-bedroom apartments, each configured with one bathroom. Unit sizes range from 491 square feet on the smaller end up to 916 square feet for the largest layouts. The property offers lease terms ranging from four months to 18 months, giving residents a wide range of options in terms of duration and flexibility.
Monthly asking rents vary by unit type. Studios are offered from $939 to $1,139 per month. One-bedroom units are advertised from $959 to $1,229 per month. Two-bedroom apartments are marketed from $1,054 to $1,289 per month. These ranges reflect current asking levels at the time of the reported sale and may shift over time based on market conditions and property-level strategy.
Amenities at Edgewater Village are extensive for a 1970s-vintage community. Shared facilities include a basketball court and a swimming pool, along with walking and biking trails that run throughout the grounds. The property also features a dog park, outdoor patio areas, and a grilling center intended for resident use. Additional offerings include a business center designed to support remote work or study, as well as multiple lakes on the site that are outfitted with fishing decks.
The combination of unit mix, range of rents, and amenity package positions Edgewater Village as a sizable rental option within the Greensboro market. While the buyer and price have been disclosed, other details common to investment sales, such as the seller’s identity and any associated financing terms, were not made public in the available reporting on this transaction.
