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With New Name, It's Back to Business for Military Housing Firm

NEWTON SQUARE, PA-Now that the dust has settled from the acquisition of GMH Military Housing by a UK-based conglomerate, the company is looking ahead to opportunities.

By Sule Aygoren Carranza | Updated on May 16, 2008

NEWTON SQUARE, PA-After several weeks in the works, Balfour Beatty plc closed on its $350.5-million acquisition of GMH Military Housing late last month. The former military housing business of US REIT GMH Communities Trust now goes by the name of Balfour Beatty Communities and operates as a subsidiary of Balfour Beatty plc, a United Kingdom-based international engineering, construction, investment and services entity.

A few weeks into the merger, the business is running smoothly, with few changes, other than moving from the New York Stock Exchange to the London Stock Exchange, reports Bruce Robinson, president and CEO of Balfour Beatty Communities. The firm remains in its home base here and has retained its entire executive management team and existing corporate and project-level military housing employees.

Yet that doesn’t mean things will necessarily remain status quo. For one, the transaction gave Balfour Beatty an entrée into the military housing privatization business in the US. The company had a successful privatization operation in the UK and had worked on several defense-related projects stateside, but was unable to make a move into the military housing sector, explains Robinson.

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