Balfour Beatty Communities Acquires 530 Units in Two-Property Multifamily Deal
BALFOUR BEATTY S/ADR (BAFYY)
NASDAQ:AMEX Investor Relations:
balfourbeatty.com/investors
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Source: Business Wire
Company expands multifamily portfolio with properties located in Columbia, SC and Mobile, AL MALVERN, Pa.--(BUSINESS WIRE)--Balfour Beatty Communities, a national residential real estate investment and management company, announced today that it has acquired the Paces Brook apartment community located at 113 Paces Brook in Columbia, SC and Retreat at Schillinger, an apartment community located at 1313 Schillinger Road South in Mobile, AL, adding 530 units to Balfour Beatty’s multifamily portfolio. The purchase was completed in partnership with ApexOne Investment Partners.Recently rebranded as Avenue at Harbison, the 12-acre Paces Brook community is comprised of 260 units built in 1990 and configured in one-, two- and three-bedroom layouts. The 12 residential buildings sit on 12.71 acres that also accommodate the community’s clubhouse, leasing office, laundry facility and maintenance shop and extensive amenities including resort-style pool, fitness center, tennis court, car care ce
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