Balfour Beatty Communities Launches Strategic Expansion into Multifamily
Military housing leader brings financing, rehabilitation and management
expertise to multifamily market
NEWTOWN SQUARE, Pa. -- January 22, 2013
Balfour Beatty Communities, LLC, one of the largest provider of privatized
housing services for the U.S. military, including financing, property
management, renovation and construction, today announced the expansion of
their offerings and platform to serve the multifamily housing market
throughout the U.S.
“Expansion into multifamily is a natural next step that leverages our proven
track record financing, building and operating military and student housing
communities,” said Chris Williams, President of Balfour Beatty Communities.
“Fueled by increased renter demand and rising rental rates, the multifamily
market has performed well in recent years and we expect it to stay strong in
2013 and beyond. We believe our innovative approach to value-add strategies,
resident relations, sustainability, renovations and utilities management has
redefined property management solutions and will differentiate us in the
Balfour Beatty Communities is responsible for housing development, management
and operations at 55 Army, Navy and Air Force installations. As part of these
long-term Public-Private Partnerships, the company has more than 40,000 units
under management with a resident population of more than 150,000, and has
overseen the construction of more than 13,000 new homes and the substantial
renovation of an additional 13,000 homes.
“As one of the leading housing partners to the Army, Navy and Air Force, we
have completely redefined the military housing experience for thousands of
Service Members and their families,” said Williams. “The size, scope and
complexity of our military projects—and our commitment to world-class customer
service—uniquely position us to address the needs of the multifamily market.”
As part of the expansion, the company has named Holly Costello, CPM®, Vice
President, Multifamily Operations. A seasoned industry executive with a
diverse background, Ms. Costello earned her Certified Property Manager
designation in 2003. She most recently served as a Regional Vice President,
overseeing the company’s Navy housing portfolio.
Balfour Beatty Communities recently launched a newly redesigned website
reflecting the expanded focus at balfourbeattycommunities.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 40,000 residential units and $5.5 billion in real estate assets under
management and has developed or renovated more than 27,000 units with a total
value of close to $4 billion. Headquartered outside Philadelphia, PA, Balfour
Beatty Communities has more than 1,100 employees and is a subsidiary of
Balfour Beatty Investments, Inc.
Balfour Beatty Investments is part of Balfour Beatty plc, a global leader in
professional services, construction services, support services, and
infrastructure investment, with more than $18 billion in annual revenues.
Balfour Beatty Communities
Maureen Omrod, 610-355-8136
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