Waterchase Apartments adds 278 units as residential real estate leader continues to focus on growth through value-add multifamily investments
MALVERN, PA --- May 10, 2019 --- National residential real estate investment and management company Balfour Beatty Communities, recently completed the acquisition of Waterchase Apartments in partnership with ApexOne Investment Partners. The 278-unit apartment community located in Largo, FL boosts Balfour Beatty’s Florida portfolio to more than 3,500 residential units state-wide.
Constructed in the 1980s, Waterchase is situated on 18 acres and offers studio, 1- and 2-bedroom apartment homes and a variety of amenities including three pools, a dog park, fitness center and newly renovated clubhouse. The community’s ideal Largo location offers close proximity to the area’s award-winning beaches, as well as the area’s prominent employers including the St. Pete-Clearwater International Airport, Bank of America and Largo Medical Center.
“Waterchase is an exciting addition to our Florida multifamily portfolio,” said Michael Price, senior vice president of residential transactions for Balfour Beatty Communities. “The Largo/Tampa area features many desirable rental demographics, including a thriving job market, and this property is ideally suited to our multifamily strategy targeted at investing in renovation and improved property management to increase value.”
Balfour Beatty Communities will deliver both property management and asset management services for the property.
ENDS
Media Contact:
Maureen Omrod
Vice President, Marketing & Communications
Balfour Beatty Communities
610-355-8136
momrod@bbcgrp.com
www.balfourbeatty.com | follow us @balfourbeatty
All non-media related enquiries should be directed to +44 (0)20 7216 6800 or info@balfourbeatty.com
About Balfour Beatty Communities
Balfour Beatty Communities, LLC is a diversified real estate services company delivering development, design, financing, construction, renovation, property and facilities management services in the multifamily, student and military housing sectors. A leader in the industry, Balfour Beatty Communities has more than 50,000 residential units and $6 billion in real estate assets under management and has developed or renovated more than 29,000 units with a total value of close to $4 billion. Headquartered outside Philadelphia, PA, Balfour Beatty Communities has more than 1,200 employees and is a subsidiary of Balfour Beatty Investments, Inc.
Balfour Beatty Investments is part of Balfour Beatty plc, a global leader in construction services, support services, and infrastructure investment.
About ApexOne Investment Partners
ApexOne Investment Partners is a privately held real estate investment firm and fund manager. Our platform was created to isolate, acquire, enhance and operate multifamily real estate. Our leadership brings over 150 years and $15B of cumulative real estate experience to each investment. We identify assets where a combination of physical enhancements and focused asset management will have a positive influence on our community residents resulting in maximizing investor returns and mitigating investment risk.
Notes to editors:
- Balfour Beatty (www.balfourbeatty.com) is a leading international infrastructure group. With 26,000 employees, we provide innovative and efficient infrastructure that underpins our daily lives, supports communities and enables economic growth. We finance, develop, build and maintain complex infrastructure such as transportation, power and utility systems, social and commercial buildings.
- Our main geographies are the UK, US and Hong Kong. Over the last 100 years we have created iconic buildings and infrastructure all over the world including the London Olympics’ Aquatic Centre, Hong Kong’s first Zero Carbon building, the National Museum of the Marine Corps in the US and the Channel Tunnel Rail Link.
About Balfour Beatty Communities:
- Balfour Beatty Communities, LLC is a diversified real estate services company delivering development, design, financing, construction, renovation, property and facilities management services in the multifamily, student and military housing sectors. A leader in the industry, Balfour Beatty Communities has more than 50,000 residential units and $6 billion in real estate assets under management and has developed or renovated more than 29,000 units with a total value of close to $4 billion. Headquartered outside Philadelphia, PA, Balfour Beatty Communities has more than 1,200 employees and is a subsidiary of Balfour Beatty Investments, Inc.
- Balfour Beatty Investments is part of Balfour Beatty plc, a global leader in construction services, support services, and infrastructure investment.
