Balfour Beatty Communities Picks Up Carmendy Square Townhomes
- Oct 06, 2014
The company acquired the 152-unit boutique multifamily property in joint venture with the ApexOne Growth & Income Fund I of Houston-based real estate investment firm ApexOne Investment Partners.
Balfour Beatty Communities LLC is a subsidiary of Balfour Beatty Investments, Inc. With more than 1,200 employees, it provides development, design, financing, construction, renovation, property and facilities management and related real estate services for the multifamily, military, and student housing markets. The Philadelphia, PA based firm’s residential portfolio includes a total of over 43,000 units and $5.7 billion in real estate assets under management. It has developed or renovated more than 29,000 units with a total value of close to $4 billion.
Located in Lady Lake, Florida, the site is approximately 25 miles south of Ocala and 50 miles northwest of Orlando, off US Highway 441 and within close proximity of The Villages, a master-planned retirement community with a population of more than 107,000 residents. Due to the proximity to The Villages, Carmendy Square Townhomes’ residents have access to a selection of retailers, shops, restaurants, health care facilities and entertainment venues, including almost 40 golf courses.
The neighborhood offers two- and three-bedroom townhomes with an average unit size of 1200 square feet. Units have private entries and backyards, while the interiors feature oak cabinetry, ceramic tile and large closets. Residents also have access to common space amenities such as a resort-style pool, 24-hour fitness center, internet café, business center, clubhouse, dog park, playground and picnic areas.
Balfour Beatty Communities will self-perform all property management services through its Multifamily Division.
Photo credits: Carmendy Square Townhomes