Balfour Beatty Communities and Block Multifamily Group Partner to Bring Property Management Solutions to HUD/Tax Credit Housing
Newtown Square, Pa and Kansas City, Mo—July 15, 2013—Balfour Beatty Communities, LLC, a leading provider of property management, development and related real estate services for the multifamily, military, and student housing markets, and Block Multifamily Group, a national multifamily management services company and a sister company to Kansas City based Block Real Estate Services, LLC, today announced they have entered into an agreement to jointly pursue property management opportunities for HUD, Low Income Housing Tax Credit (LIHTC) and other Public Housing Authority projects.
Both companies bring a significant geographic footprint and deep expertise in multifamily property management to this alliance. Balfour Beatty Communities, a recognized leader in military housing management, has broad experience delivering property management services within complex government programs. Block Multifamily has an extensive background in HUD and LIHTC property management, including all certifications and compliance requirements for HUD-related property management.
“Block Multifamily has considerable expertise working in the HUD and Tax Credit housing sector and we look forward to working collaboratively with them as we expand our property management offering to this sector,” said Holly Costello, Vice President Multifamily Operations for Balfour Beatty Communities.
“The combined property management force of the two groups will provide a comprehensive property management platform unrivaled in today’s sophisticated real estate market,” added Bill Larson, President, Block Multifamily Group. “We are excited about this new relationship with Balfour Beatty Communities and the continued growth of our multifamily team at Block Multifamily Group,” adds Kenneth G. Block, Managing Principal of BRES.
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 37,000 residential units and $5.5 billion in real estate assets under management and has developed or renovated more than 27,000 units with a total value of close to $4 billion. Headquartered outside Philadelphia, PA, Balfour Beatty Communities has more than 1,100 employees and is a subsidiary of Balfour Beatty Investments, Inc.
Balfour Beatty Investments is part of Balfour Beatty plc, a UK-based international infrastructure group operating in construction services, professional services, support services and infrastructure investments.
About Block Multifamily Group
Block Multifamily Group (BMG) provides multifamily management services in a wide geographic area. Our de-centralized management, coupled with a centralized financial center, enables our staff to provide proactive property management services in a timely manner. Effectively managing our clients' needs is the focal point of our operating philosophy. Covering conventionally-financed multifamily assets as well as HUD-insured and Low Income Housing Tax Credit (LIHTC) properties, BMG is able to provide services for a wide client base.
BMG is a division of Block Real Estate Services (BRES), a full-service commercial real estate company managing over 22 million square feet of retail, office, and industrial properties and over 2,000 units of multifamily property for equity partnerships and third party owners. BRES’s portfolio of services continues its role as the most comprehensive commercial real estate firm in Kansas City by providing and specializing in: real estate brokerage services, tenant representation, investment services, asset and property management, economic incentives consultation, financial services, construction and development services, and the Block Funds.
For more information contact:
Holly Costello, CPM, CPO
Vice President, Multifamily Operations
Balfour Beatty Communities
Bill Larson, CPM
Block Multifamily Group
Kenneth G. Block, SIOR, CCIM
Block Real Estate Services