The acquisition financing was arranged by Berkadia and funded by an affiliate of Walton Street Capital, L.L.C.Īaron Cardwell, Senior Managing Director at Berkadia said: "We are excited to assist Balfour Beatty to optimize their cost of financing. “Our team is excited to bring Balfour Beatty’s exceptional living experience to the student community in Tallahassee.” Mike Price, Executive Vice President of Residential Housing at Balfour Beatty said: “We are pleased to complete this acquisition and continue to expand our portfolio, with a balanced mix of student housing and multifamily assets. The convenient location is also within walking distance to the Ocala Corners shopping centre, a short drive from the Tallahassee International Airport, and provides easy access to all things FSU athletics. 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. 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,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.
The property will be managed internally by the Company’s residential management division, Balfour Beatty Communities. The acquisition expands the company’s overall Florida footprint to 12 residential properties. ‘The Quarters at Tallahassee’ rebranded to ‘Oktiv’ as part of the acquisitionīalfour Beatty announced today that it has acquired a 168-unit/592-bed student housing community in Tallahassee, Florida. News listings Balfour Beatty Expands Student Housing Portfolio with Acquisition of 592 Bed Property in Tallahassee
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