BLOCK REAL ESTATE SERVICES, LLC BLOG: Block Multifamily Partners with Balfour to Deliver Solutions

Thursday, July 25, 2013

Block Multifamily Partners with Balfour to Deliver Solutions

Two heads are better than one...and sometimes two companies are better than one.

Block Multifamily Group (BMG) and Balfour Beatty Communities have partnered to jointly pursue property management opportunities for HUD, Low Income Housing Tax Credit (LIHTC) and other Public Housing Authority projects. Learn the basics of LIHTC here.

This joint venture that will enable both companies to pursue property management opportunities nationally in the HUD-insured, tax-credit-financed and rent-subsidized multifamily housing sector with a strong combined effort.
Both companies bring a significant geographic footprint and deep expertise in multifamily property management to the table for this alliance. Balfour, a leader in military housing management, has broad experience in working in conjunction with complex government programs to deliver property management services. BMG has an extensive background in HUD and LIHTC, including all certifications and compliance requirements for HUD-related property management.

In this partnership, Balfour will be key to facilitating the contracts the joint venture secures while BMG will help their efforts navigate complex compliance and administrative duties specific to the sector they are pursuing.

“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.

The press is also buzzing about this partnership. Read mention of it in the following publications:

“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.