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Oct. 27, 2020

Balfour Beatty Communities Expands Multifamily Portfolio with Little Rock Acquisition

Balfour Beatty Communities Expands Multifamily Portfolio with Little Rock Acquisition

Balfour Beatty Communities, a national residential real estate investment and management company, has acquired a 260-unit multifamily housing community in Little Rock, AR, with partner ApexOne Investment Partners.

Built in 2012, the Chenal Pointe at the Divide community offers one and two-bedroom apartments featuring bay windows, eat-in kitchens, patios and balconies, walk-in closets, and wood-style flooring. Additionally, the 15.22-acre footprint boasts several amenities, including a resort-style pool, dog park, walking and biking trails, fitness center, and game room.

Balfour Beatty Communities will deliver comprehensive property management services for the property, as well as oversee a targeted renovation strategy that will bring enhancements to unit kitchens, the fitness center and pool area.

The well-positioned community serves the upscale Chenal Valley neighborhood and is easily accessible to all parts of Little Rock, with Chenal Pointe at the Divide located immediately off AR-10. Major area employers, including the University of Arkansas for Medical Sciences, Baptist Health, and CHI St. Vincent, are miles from the community. Additionally, Amazon plans to construct a 3.4M square foot distribution center located 18 miles from Chenal Pointe at the Divide. The company is anticipating 1,000 jobs will be added to the region once the center is completed.

“This acquisition is an excellent opportunity for us to expand and diversify our multifamily asset portfolio in a growing market, such as Little Rock,” said Mike Price, SVP of Acquisitions. “We are excited about the performance potential of Chenal Pointe at the Divide and the improvements we have planned to deliver an exceptional living experience to residents.”

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