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GASTONIA, N.C. — Gindi Equities has sold Cedar Ridge Apartments, a 104-unit community located at 1680 Herman Dr. in the Charlotte suburb of Gastonia. Cedar Ridge Apartments offers a mix of two- and three-bedroom units. The asset traded hands for $13.5 million. The buyer was not disclosed.
Gindi Equities acquired the property for $10 million in 2021. Over the course of ownership, the company implemented a renovation program at Cedar Ridge, which included upgrading on-site amenities and apartment interiors. Amenities now include a new playground and dog park. The complex’s leasing center was also upgraded.