Market Overview

Balfour Beatty Communities Acquires 220-Unit Multifamily Property; Marks First Asset in Jackson Market


Beatty Communities
, a national residential real estate investment
and management company responsible for the ownership and operation of
more than $6 billion in multifamily assets, has expanded its multifamily
portfolio with the acquisition of a new property in Ridgeland, MS. The
acquisition of Lexington Apartments—a 220-unit community—was completed
as part of a joint venture with longtime partner, ApexOne
Investment Partners

The gated community built in 2000—which is being rebranded as Ridgeland
—is ideally located in the upscale Northeast section of
Jackson, MS and within close proximity of several major employers
including Select Specialty Hospital, Nissan North America and Comcast.
Apartment homes are available in one-, two- and three-bedroom models and
feature a number of amenities including private outdoor areas,
fully-equipped kitchens and ample storage space. In addition, Ridgeland
Place showcases several community amenities including a sparkling pool
with sundeck, fitness center, and playground.

"Ridgeland appealed to us given its premier location within an
award-winning school district, flourishing retail and entertainment
offerings and accessibility to major highways," said Michael Price, vice
president of residential transactions for Balfour Beatty Communities.
"We look forward to adding value to the community through modern
renovations and raising the bar for an exceptional living experience
with our management expertise."

Balfour Beatty Communities will self-perform property management
services and invest in a series of capital improvements at the property,
including upgrades to unit interiors, the community amenity package and
overall curb appeal.

About Balfour Beatty Communities

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.

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