Military Housing Project

August 11, 2010

Balfour Beatty Communities says it has completed the purchase of interests previously held by American Eagle Communities in the U.S. Department of the Army's Fort Leonard Wood Military Housing Privatization Project in Pulaski County. As part of the transaction, the company has acquired the outstanding equity interests of American Eagle for an aggregate purchase price of $3.25 million, and assumed the existing agreements for property management, development and construction/renovation relating to the project.

Along with the closing of the acquisition, Balour Beatty Communities assisted the project company in successfully restructuring the project scope through negotiations with the Army and existing bondholders.

         
 

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