Provides Colleges and Universities Facing Reduced Funding and Shrinking Endowments with the Real Estate Solution for Needed Capital Improvements
Balfour Beatty Capital Group, Inc. today announced the launch of its newest operating company, Balfour Beatty Campus Solutions, LLC. The new operating company will join the umbrella of services available under Balfour Beatty Capital Group, which also includes Balfour Beatty Communities, LLC; Balfour Beatty Capital, Inc.; and Balfour Beatty Energy Solutions, LLC. Balfour Beatty Campus Solutions will provide development, management and other real estate services to colleges, universities or their affiliated entities with a special focus on projects utilizing a Public-Private Partnership model.
The effects of the economic crisis have contributed to reduced funding and a steep decline in endowments at colleges and universities throughout the country. As a result, institutions of higher education are facing a number of challenges that are causing them to rethink their options and look for new solutions to meet the demands of their campus master plans.
Public-Private Partnerships provide an attractive alternative for higher education institutions that are looking to bridge the gap between necessary capital plans (academic facilities for faculty, classrooms and labs, as well as wellness centers and improved student housing) and the resources needed to execute these plans.
"Helping higher education meet its growing infrastructure challenges is a natural market for Balfour Beatty Campus Solutions and our affiliated companies," stated Bruce Robinson, President and CEO of Balfour Beatty Capital Group. "Public-Private Partnerships are a simple yet effective way to introduce private expertise and capital into the public sector with the goal of improving overall value. The Balfour Beatty companies have a wealth of experience and knowledge in higher education as well as Public-Private Partnerships in the U.S. that ideally positions us to serve this market."
Balfour Beatty Campus Solutions in combination with Balfour Beatty Capital, will partner with other Balfour Beatty affiliates in its Public-Private Partnership initiative efforts. These affiliate companies include:
- Balfour Beatty Communities: one of the leaders in the military housing Public-Private Partnership industry responsible for the development, renovation, operation and management of 44 installations for the U.S. Departments of the Army, Navy and Air Force. Their portfolio includes over 30,000 multifamily units in 20 states and Washington, DC.
- Parsons Brinckerhoff(PB): a leader in developing and operating infrastructure dedicated to meeting the needs of clients and communities around the world. Founded in 1885 in New York City the firm is active in all major infrastructure markets, including transportation, power and energy, buildings, water and wastewater, environmental services, and community development including higher education, medical facilities—and serves both public and private clients.
- Balfour Beatty Construction: a leader in the U.S. commercial construction industry for 76 years, providing general contracting, at-risk construction management, design-build, preconstruction, public/private and turnkey services for clients nationwide. Their portfolio includes completion of hundreds of educational projects for both the K-12 and university/college environment Together with their subsidiary companies Charter Builders and Barnhart, Inc., Balfour Beatty Construction represents the 5th largest education builder in the nation.
- Heery International, Inc.: an architecture, interior design, engineering, program management and construction management firm. Heery's portfolio includes a wide variety of projects completed for more than 400 colleges and universities.
- Stratus: a division of Heery International that provides research and strategy implementation consulting services with a portfolio that spans large and small colleges and universities throughout the U.S.
"The need in higher education is significant, and it encompasses more than just student housing," continues Robinson. "Balfour Beatty Campus Solutions' Public-Private Partnership initiative represents the ideal solution for colleges and universities that are unable to provide the upgraded academic space, housing, and related amenities needed to deliver high value education, while also meeting their realistic budgetary and management demands."
About Balfour Beatty Capital Group, Inc.
(http://www.bbcgrp.com/)
Balfour Beatty Capital Group specializes in partnering with government entities and high performing public sector firms to implement their strategic plans through a Public-Private Partnership (PPP/P3) model. Through the Company's four divisions, Balfour Beatty Communities, LLC, Balfour Beatty Capital, Inc., Balfour Beatty Energy Solutions, LLC, and Balfour Beatty Campus Solutions, LLC, it is one of the leading providers of PPP projects in the United States with over 1,000 employees nationwide.
Balfour Beatty Capital Group is a part of Balfour Beatty plc, the largest UK-based international infrastructure group operating in construction services, professional services, support services and infrastructure investments, with a proud and successful history extending back 100 years.
About Balfour Beatty Campus Solutions, LLC
(http://www.bbcampussolutions.com)
Balfour Beatty Campus Solutions, LLC, a subsidiary of Balfour Beatty Capital Group, Inc., provides development, asset/property management and other real estate services to colleges, universities or their affiliated entities with a special focus on projects utilizing a Public-Private Partnership (PPP/P3) model. The company offers an alternative solution for higher education institutions which are looking to bridge the gap between necessary capital plans (academic facilities for faculty, classrooms and labs, athletic spaces as well as wellness centers and improved student housing) and the resources needed to execute these plans.
NOTE TO THE EDITOR ABOUT PUBLIC PRIVATE PARTNERSHIPS:
Public Private Partnerships offer a unique, but effective solution for meeting the housing and infrastructure demands of higher education. According to the National Council of Public-Private Partnerships, under a Public-Private Partnership, a contractual arrangement is formed between public and private-sector partners. In the case of higher education, a college or university may contract with Balfour Beatty Campus Solutions to do everything from designing and constructing new buildings, such as classrooms and housing, to managing operations and facilities.
Public-Private Partnerships allow the college or university to partner with Balfour Beatty Campus Solutions whereby via Balfour Beatty Capital they invest the needed equity for the design, development and construction of the building or facility. Both the Balfour Beatty companies and the higher education institution then share in the resulting revenue. The college or university benefits from a new income stream, improved infrastructure and access to much needed capital, while the private partner brings its experience and expertise to the development, management and operation of the new facilities, while also generating significant revenue from the partnership. For more information, visit www.bbcgrp.com.
Contacts:
Balfour Beatty Capital Group, Inc.
Kathleen M. Grim,
610-355-8206
kgrim@bbcgrp.com
or
Gregory
FCA
Lauren Rumsey, 610-228-2132
LaurenR@GregoryFCA.com
(General
Media Contact)
