Gindi Equities announced the sale of Lindsey Manor Apartments, a 222-unit multifamily community at 472 Lindsey Street in Kernersville, N.C., for $34 million, or approximately $153,000 per apartment.
The sale closed in late December and was the largest residential transaction of the year in Forsyth County, which encompasses the city of Winston-Salem and a number of rapidly expanding towns, including Kernersville. Acquired by Gindi Equities in October 2021 for $24.5 million, Lindsey Manor features a mix of one-, two- and three-bedroom apartments conveniently located near downtown Kernersville, as well as major highways and several of the area’s top schools and employers.
Gindi Equities completed a series of capital improvements to enhance the property, including apartment interior renovations, a full reroofing, a new grilling area and dog park and upgrades to the pool and playground.