Philadelphia-based company will rebrand and upgrade the 300-unit
community to meet demand for growing professional population
MALVERN, Pa.–(BUSINESS WIRE)–Balfour
Beatty Communities, national residential real estate investment and
management company, has successfully acquired the Bartlett, TN
multifamily community, Legends at Wolfchase. This deal marks the second
acquisition of a Memphis-area community for the Company within the past
six months, completed in conjunction with ApexOne
Investment Partners.
To be rebranded as Preserve
at Bartlett, the community is ideally situated in the desirable
Memphis suburb of Bartlett and offers immediate access to the region’s
main business corridors, as well as an award-winning school district.
The property’s 300-unit inventory consists of one-, two- and
three-bedroom apartment homes featuring fireplaces, attached garages and
private outdoor spaces. Community amenities across the property’s 24
acres include a pool, fitness center, dog park and clubhouse.
“We’re quite bullish on the Memphis multifamily market and pleased to
continue our expansion in the region after our initial entry with the
acquisition of Preserve
at Southwind earlier this year,” said Gen Bauer, senior vice
president of Balfour Beatty Communities. “We look forward to bringing
Balfour Beatty Communities’ exceptional management approach to the
property, as well as targeted renovations that will continue to position
the property competitively in the market.”
Proposed plans for the property include comprehensive kitchen
renovations, as well as upgrades to washer/dryer units and closets.
Other planned community upgrades include enhancements to building
exteriors, the pool area and overall landscaping.
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.
Contacts
Media Contact:
Maureen Omrod
Senior Vice President,
Marketing & Communications
Balfour Beatty Communities
610-355-8136
[email protected]
