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Ginkgo Residential Announces Receivership of Oaks at Park South

CHARLOTTE, N.C.--(BUSINESS WIRE)-- Ginkgo Residential has been appointed as Receiver for Oaks at Park South Apartments in Oxon Hill, Maryland, by the Circuit Court in Prince George’s County, Maryland. This 510 unit apartment community, located off a major thoroughfare, Indian Head Highway, is just beyond the border of the District of Columbia and Maryland. Ginkgo’s history of rehabilitation of distressed assets and its relationship with various lenders provides an expertise that will revitalize this asset.

“We are pleased to have been selected to help the residents of this distressed community,” states Philip Payne, CEO of Ginkgo Residential. “We are confident that by utilizing our expertise and proven platform that we will be able to improve residents’ quality of life and create value for all stakeholders.”

Ginkgo Residential is an industry leader focused on combining our core business of providing reasonably priced, high quality workforce housing with energy efficient programs that are environmentally sensitive. Ginkgo is a significant operator of apartment communities located primarily in the South, Southeast and Mid-Atlantic regions of the United States. For more information on Ginkgo Residential and our communities, visit our website - www.GinkgoRes.com.

Ginkgo Residential
Philip Payne, 704-944-0100
philip.payne@ginkgomail.com
www.GinkgoRes.com

Source: Ginkgo Residential