Gindi Equities recently sold the Lindsey Manor Apartments, a 222-unit multifamily community located at 472 Lindsey Street in Kernersville, North Carolina. The property was purchased for $34 million, averaging to approximately $153,000 per apartment.
According to Gindi Equities, this is the largest residential transaction of the year in Forsyth County which includes Winston-Salem and several rapidly growing towns like Kernersville. The company had acquired Lindsey Manor in October 2021 for $24.5 million and it offers a mix of one-, two-, and three-bedroom apartments that are conveniently situated near downtown Kernersville.
After acquiring the property last year, Gindi Equities made significant improvements including renovations to apartment interiors as well as adding new amenities such as a dog park and grilling area. They also upgraded existing features like the pool and playground.
This sale comes after another successful transaction by Gindi Equities earlier this month when they sold Greenview Meadows located in Gastonia for $14.5 million. This multifamily community with 109 units was acquired by Gindi back in February 2021 for $10 million.
Overall, these recent sales demonstrate Gindi’s success in Guilford County’s real estate market.
