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Gindi Equities Acquires Fargo Multifamily Property
Gindi Equities today announced the acquisition of the Osgood Townsite Apartments, a multifamily community in Fargo, North Dakota, from Property Resources Group. The purchase marks Gindi’s entry into the Fargo market, as the firm expands its national portfolio of premier residential assets.
Gindi plans to invest in a renovation program to modernize and enhance the Class-B property. Planned improvements include redesigned kitchens and bathrooms and upgraded building exteriors and grounds. Gindi will also implement sustainable elements and energy savings fixtures to increase efficiency and reduce utility costs. Property Resources Group will continue to manage and service the asset.
With this acquisition, Gindi’s multifamily portfolio is valued at over $250 million and spans 2,000 units in the United States. Built in 2004, Osgood is located at 4901 44th Avenue South and encompasses 243 apartments ranging in size from one to three bedrooms.
