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2023
Jul. 27, 2023

Balfour Beatty Expands Student Housing Portfolio with Acquisition of 592 Bed Property in Tallahassee

Balfour Beatty Expands Student Housing Portfolio with Acquisition of 592 Bed Property in Tallahassee

‘The Quarters at Tallahassee’ rebranded to ‘Oktiv’ as part of the acquisition

MALVERN, PA --- July 27, 2023 ---Balfour Beatty, announced today that it has acquired a 168-unit/592-bed student housing community in Tallahassee, Florida. The acquisition expands the company’s overall Florida footprint to 12 residential properties. The property will be managed internally by the Company’s residential management division, Balfour Beatty Communities.

Oktiv, previously known as The Quarters at Tallahassee, offers off-campus living to students enrolled at Florida State University, Florida A&M University and Tallahassee Community College. Six unique floor plan options feature a variety of modern amenities, including in-unit washer and dryer, updated cabinetry, stainless steel appliances, granite countertops and spacious balconies.

Oktiv is ideally positioned approximately one mile from the campus of Florida State University, and nearby to Tallahassee Community College and Florida A&M University. The convenient location is also within walking distance to the Ocala Corners shopping center, a short drive from the Tallahassee International Airport, and provides easy access to all things FSU athletics.

“We are pleased to complete this acquisition and continue to expand our portfolio, with a balanced mix of student housing and multifamily assets,” said Mike Price, executive vice president of Residential Housing for Balfour Beatty. “Our team is excited to bring Balfour Beatty’s exceptional living experience to the student community in Tallahassee.”

The acquisition financing was arranged by Berkadia and funded by an affiliate of Walton Street Capital, L.L.C.

"We are excited to assist Balfour Beatty to optimize their cost of financing," said Aaron Cardwell, Senior Managing Director of Berkadia. "The efficiency of the expert team was particularly impressive, and we look forward to assisting them again as the company grows its portfolio."

“We are excited to expand our lending relationship with Balfour Beatty by providing financing for a student housing community serving universities with strong fundamentals,” said Corey Chamberlain, Principal with Walton Street.



About Balfour Beatty

Balfour Beatty is a leading international infrastructure group with over 25,000 employees driving the delivery of powerful new solutions, shaping thinking, creating skylines and inspiring a new generation of talent to be the change-makers of tomorrow. We finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.

About Balfour Beatty Communities

Balfour Beatty Communities is an active owner and operator of residential real estate in the multifamily, student and military housing sectors across the United States. Since its inception, Balfour Beatty Communities has invested in nearly 100 properties representing more than $7.9 billion of gross asset value. Our broad in-house expertise includes decades of acquisition, development, finance, renovation, leasing and property/facility management experience. Leveraging this extensive expertise and a customer service-focused approach, Balfour Beatty Communities seeks to create value in its real estate projects while delivering exceptional living experiences. For more information, visit balfourbeattycommunities.com.

Balfour Beatty Communities is a subsidiary of Balfour Beatty Investments, Inc. and Balfour Beatty plc, a leading international infrastructure group.

About Walton Street Capital, L.L.C.

Walton Street is a private equity real estate investment firm that, since its inception in 1994 through its affiliates, has raised over $15 billion of capital commitments. Walton Street’s principals have collectively acquired, financed, managed, and sold over $55 billion of real estate and have an average of 22 years of real estate industry experience. Senior management has collectively invested and managed both real estate equity and debt through several real estate cycles over five separate decades and more than 40 years, forging long-term and deep relationships with lenders, public and private real estate owners, operators, brokers, managers, and industry service providers. Through this diverse network, Walton Street has sourced over $10 billion in lending opportunities for its affiliates since inception.

About Berkadia®

Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.

To learn more about Berkadia, please visit www.berkadia.com.

Media Contacts:
Surabhi Verma
Director, Stakeholder Communication
Balfour Beatty Communities
267-887-0706
SVerma@bbcgrp.com

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2023
Jul. 12, 2023

Balfour Beatty Communities Launches Electric Vehicle Charging Program to Enhance Military Housing

Balfour Beatty Communities Launches Electric Vehicle Charging Program to Enhance Military Housing

The Company has partnered with TRO Energy Solutions Inc. to introduce the pilot program at Naval Submarine Base New London and Vandenberg Space Force Base

MALVERN, PA --- July 12, 2022 --- Balfour Beatty Communities (BBC), a national residential real estate investment and management company, announces the launch of an electric vehicle (EV) charging program that offers residents Level 2 in-home charging capabilities. The program is being offered through an agreement with TRO Energy Solutions Inc. (TROES), a national provider of EV-related services. Initial pilot program locations include Beacon Point Homes located at Naval Submarine Base New London in Connecticut, and Vandenberg Family Homes located at Vandenberg Space Force Base in California.

“We are focused on delivering an exceptional living experience to our residents, and we’re seeing a growing number of EV owners in our communities,” said Chuck Parker, EVP, Military Housing Operations. “This new program with TROES allows us to offer residents a simple, easy-to-use solution for convenient in-home charging while supporting goals set forth by the Office of Secretary of Defense related to energy resilience and our own Company sustainability initiatives.”

“This pilot program is a win for all involved,” said Capt. Kenneth M. Curtin Jr., Commanding Officer of Naval Submarine Base New London. “I am delighted that our Nation’s first and finest submarine base was selected by Balfour Beatty Communities to be one of their first pilot locations for EV charging at home. Efforts that not only align with Federal and the Office of Secretary of Defense goals but also improve the quality of life for our sailors and their families.”

The in-home EV charging ports, installed and maintained by TROES, provide Level 2 charging with three available package options, allowing residents to select the EV charging plan that best meets their needs. The TROES Charge Time app delivers added convenience, streamlining account management, and other in-home charging features through a mobile device.

“We are excited our Airmen and Guardians will have the opportunity to obtain in-home high-speed Electric Vehicle (EV) charging via Balfour Beatty Communities partnership with TROES,” said Colonel Chris Sheffield, Vice Commander for Vandenberg Space Force Base. “Serving as a pilot location fulfills existing resident demands for EV charging and supports efforts to reach future Department of Defense and California emission goals.”

“We are pleased to be selected by Balfour Beatty Communities to offer this exciting amenity of EV charging solutions to support military personnel and their families who make so many sacrifices in the defense of our country. It is a privilege to offer practical and economical services that military families can depend upon to keep their EVs powered up and transition to sustainable energy,” said Edward DeVries, president of TRO Energy Solutions, Inc.



About Balfour Beatty Communities

Balfour Beatty Communities is an active owner and operator of residential real estate in the multifamily, student and military housing sectors across the United States. Since its inception, Balfour Beatty Communities has invested in nearly 100 properties representing more than $7.9 billion of gross asset value. Our broad in-house expertise includes decades of acquisition, development, finance, renovation, leasing and property/facility management experience. Leveraging this extensive expertise and a customer service-focused approach, Balfour Beatty Communities seeks to create value in its real estate projects while delivering exceptional living experiences. For more information, visit balfourbeattycommunities.com.

Balfour Beatty Communities is a subsidiary of Balfour Beatty Investments, Inc. and Balfour Beatty plc, a leading international infrastructure group.

About TRO Energy Solutions, Inc.

TRO Energy Solutions, Inc. delivers clean-energy services that support and promote electric vehicle (EV) usage, build EV infrastructure, and inspire confidence in the EV ecosystem. The ChargeTime app along with its Made in the USA/TAA compliant home charging products and economical services keep EV owners powered up. Headquartered in Virginia Beach, VA, TROES is proud to support US military personnel with convenient in-home charging, community chargers, and dependable charging services.

Media Contacts:
Surabhi Verma
Director, Stakeholder Communication
Balfour Beatty Communities
267-887-0706
SVerma@bbcgrp.com

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2023
Jul. 05, 2023

Balfour Beatty Communities Foundation Awards 44 Residents with College Scholarships

Balfour Beatty Communities Foundation Awards 44 Residents with College Scholarships

2023 scholarship grants total over $113,000 and will contribute to recipients’ post-secondary education pursuits

MALVERN, PA --- July 5, 2023 --- Balfour Beatty Communities Foundation, announced today that it has awarded 44 scholarships totaling more than $113,000 to residents spanning living in military housing, multifamily housing, and student housing owned and managed by Balfour Beatty Communities, LLC. The annual scholarship program supports the Foundation’s primary goal of encouraging and promoting the pursuit of education and commitment to community leadership.

“We are pleased to award these scholarships,” said Leslie Cohn, member of the Board of Directors at Balfour Beatty Communities Foundation. “Since its establishment, Balfour Beatty Communities Foundation has helped support the educational ambitions of more than 600 academic applicants across the country. We are honored to continue to deliver on our commitment of delivering exceptional living experiences through this important program.”

“This scholarship will take the weight of worrying about tuition costs for the next year off my shoulders as it’s already very mentally draining to pursue higher education while being a mother of two young children and battling cancer,” said Haley Lady, scholarship recipient and resident at Fort Gordon Family Homes. “My battle with cancer doesn’t allow me to work and I am also the sole caretaker of the children while my husband is serving the country, so I am not expendable. For all these reasons and more, I am very grateful for the generosity of the foundation for awarding me this scholarship.”

This is the 16th year of the Balfour Beatty Communities Foundation scholarship program. Since its inception in 2007, the foundation has awarded more than $1.7 million to deserving residents living at military, multifamily and student housing communities owned and managed by Balfour Beatty Communities. For more information, visit Balfour Beatty Communities Foundation



About Balfour Beatty Communities
Balfour Beatty Communities Foundation is a non-profit organization that principally focuses on supporting the post-secondary educational goals of residents who live in communities owned and managed by Balfour Beatty Communities, LLC. The Foundation is also committed to honoring military personnel – active, wounded, and fallen – by supporting organizations that assist military service members and/or their families. Additional information regarding Balfour Beatty Communities Foundation’s purpose, programs, and activities can be obtained through BBCommunitiesFoundation.org.

Balfour Beatty Communities Foundation is a Pennsylvania non-profit organization with a 501(c)(3) classification from the Internal Revenue Service of the United States. Financial information can be obtained by contacting Sharon Marcone at One Country View Road, Malvern, PA 19355, (610) 355-8100, smarcone@bbcgrp.com. Additional information may be obtained directly by contacting the relevant state agency noted at http://www.bbcommunitiesfoundation.org/#!legal-disclosures/co6u.

Media Contacts:
Surabhi Verma
Director, Stakeholder Communication
Balfour Beatty Communities
267-887-0706
SVerma@bbcgrp.com

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