Balfour Beatty Communities grows Jacksonville portfolio with luxury apartment asset
14 August 2019
Balfour Beatty Communities, a leading residential real estate investment and management company, has successfully completed the acquisition of Landings at Lake Gray, a 300-unit luxury apartment complex located in Jacksonville, Florida. The purchase was completed in partnership with ApexOne Investment Partners.
Developed in 2005, Landings at Lake Gray offers one-, two- and three-bedroom layouts averaging 952 square feet and featuring designer cabinetry, plank flooring, plantation-style blinds and in-unit washer/dryer. Some floor plans also feature vaulted ceilings, granite counters and garages. The 14-acre property also offers lake views and extensive community amenities, including a resort-style pool, fitness center, clubhouse, outdoor kitchen and playground.
Located in desirable West Jacksonville, Landings at Lake Gray offers convenient and immediate access to Interstate 295 and major area employers including Naval Air Station Jacksonville, Orange Park Medical Center and General Dynamics.
Gen Bauer, Senior Vice President of Balfour Beatty Communities, said: “Landings at Lake Gray is located in a highly sought-after area of Northeast Florida and benefits from its close proximity to Jacksonville’s largest employment centers
“With our targeted renovation strategy and world-class management services, we are very excited about this property and its potential to serve area residents looking for quality and value.”
Renovation plans for Landings at Lake Gray are scheduled to commence immediately and will include additional improvements to landscaping and curb appeal, an upgraded amenity package, and interior renovations to further modernise kitchens, lighting and flooring.
Image: Photograph of Landings at Lake Gray apartment exterior
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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.
Notes to editors:
- Balfour Beatty (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.