Balfour Beatty, the FTSE 250 infrastructure group, has announced that Balfour Beatty Communities, a division of its US PPP concession arm, has reached financial close on a 362m dollar (230m pounds) military homes project for the US Department of the Air Force.
Overall management and maintenance of the 50-year project, known as the Western Group Housing Privatisation Project, will be met by Balfour Beatty Communities. In addition, Balfour Beatty Capital, its infrastructure investment arm, has made an equity investment of around $16.3m (£10.3m) in the project. Balfour Beatty Construction US will be responsible for the new construction elements of the project.
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