Balfour Beatty Acquires Tallahassee, Florida Student Housing
|Created At:||03 August, 2023|
|Created By:||Samir Badawy|
Balfour Beatty, the infrastructure group, real estate owner, and operator, added a new six-storey, 592-bed off-campus student housing project to its portfolio, with the new PBSA being the company’s 12th Florida property. Balfour Batty’s Balfour Communities will manage the acquired property as one of its internal divisions. This was also made possible by Berkadia, which arranged the financing, and Walton Street Capital, which funded the acquisition.
About the Property
Oktiv, formerly known as the Quarters of Tallahassee, mainly caters to students at the nearby Florida A&M University, Florida State University, and Tallahassee Community College. The previously mentioned campuses are all within close range of Oktiv, making it ideal for students attending these campuses, with the nearest being Florida State. The property is also near the Tallahassee International Airport and various shopping spots.
The offered student housing units include 2-bedroom student housing apartments, four-bedroom student housing apartments, and Townhomes. Both apartment options have multiple variations that differ in layout and size; however, they all have the same amenities and features.
Each apartment has ensuite rooms, so each student has their own private bathroom. These apartments also feature living areas to socialise with your flatmates and amazing, fully equipped kitchens. Living areas typically have comfortable couches to lounge on and a TV to enjoy a relaxed evening. The kitchen has everything you need, which includes an oven, stove, microwave, fridge-freezer, granite countertops, plenty of storage spaces, a breakfast bar, and more. Other amenities include a balcony, central AC, heating, and laundry and drying machines.
The property also features various exciting facilities, such as a resort-style pool that comes with a cabana, fire pit, pool volleyball, and a sundeck with lounge chairs to make the most of the Florida weather. You will also have access to study facilities through the dedicated study rooms, a fitness centre to keep fit, and a yoga studio. The property has very helpful staff present.
About the Company
Balfour Beatty is among the largest infrastructure companies with a staff size of 25,000; together with their staff, they help create, innovate, and provide great solutions that help national economies and deliver beneficial projects to local communities.
Balfour Beatty Communities is an internal division of Balfour Beatty. This division owns and operates various properties that serve multiple sectors, most notably family housing, student housing, and military housing. This division’s assets amount to $7.9 billion after investing in more than 100 properties throughout the decades.