NEW YORK, NY - Gindi Equities today announced the acquisition of Timber Creek Apartment Homes, a multifamily community located at 4720 Timber Parkway South in Fargo, North Dakota.
Gindi acquired Timber Creek from Property Resources Group, which will continue to manage and service the asset. The purchase marks Gindi’s second acquisition in the Fargo market, as the firm continues to expand its national portfolio of premier residential assets.
Gindi plans to implement interior upgrades at Timber Creek, including the installation of new features and fixtures to apartment kitchens and bathrooms. Common areas and grounds will also be renovated, and new exterior amenities will be added to further elevate the property.
“Timber Creek presents a prime opportunity to make strategic improvements that will add value and enhance the experience for all residents,” said Al Gindi, President and Co-Founder of Gindi Equities. “This acquisition marks an important step in our continued growth strategy and reflects our commitment to expanding our portfolio in the thriving Fargo market.”
The acquisition of Timber Creek follows Gindi’s purchase of the 243-unit Osgood Townsite Apartments, from Property Resources Group, in June. Both acquisitions align with Gindi’s strategy to target opportunistic investments in high-growth markets across the United States. Gindi aims to position Osgood and Timber Creek as two of the top housing options in the Fargo market.
“Gindi Equities has been a great company to work with throughout the process,” said Kevin Christianson, President of Property Resources Group. “We look forward to further developing a relationship with them and helping them grow their Midwest multifamily portfolio in the future.”
Built in 2015, Timber Creek encompasses 252 apartments ranging in size from one- to three-bedrooms. Residents benefit from a variety of features designed for convenience and comfort including single and double-stall garages, in-unit washers and dryers, private balconies and patios, a playground, a beach volleyball court and a pergola grilling area.
Timber Creek boasts a prime South Fargo location just off I-29 and close to parks, schools, restaurants and shopping. With a high-earning population and business-friendly environment, the Fargo metro area is a growing hub for the tech, agriculture and healthcare sectors.
About Gindi Equities: Founded in 2020 by Raymond and Al Gindi, Gindi Equities is a New York City based investment manager that targets multifamily assets to deliver superior risk-adjusted returns. Gindi Equities owns and operates multifamily properties across the Southeast and Midwest and is continuously looking for opportunities to expand its footprint. Gindi Equities’ investment strategy focuses on acquiring value-add and core plus properties in markets with robust economic drivers and outsized population growth.