Waterchase Apartments adds 278 units as residential real estate leader
continues to focus on growth through value-add multifamily investments
MALVERN, Pa.–(BUSINESS WIRE)–National residential real estate investment and management company Balfour
Beatty Communities, recently completed the acquisition of Waterchase
Apartments in partnership with ApexOne
Investment Partners. The 278-unit
apartment community located in Largo, FL boosts Balfour Beatty’s Florida
portfolio to more than 3,500 residential units state-wide.
Constructed in the 1980s, Waterchase is situated on 18 acres and offers
studio, 1- and 2-bedroom apartment homes and a variety of amenities
including three pools, a dog park, fitness center and newly renovated
clubhouse. The community’s ideal Largo location offers close proximity
to the area’s award-winning beaches, as well as the area’s prominent
employers including the St. Pete-Clearwater International Airport, Bank
of America and Largo Medical Center.
“Waterchase is an exciting addition to our Florida multifamily
portfolio,” said Michael Price, senior vice president of residential
transactions for Balfour Beatty Communities. “The Largo/Tampa area
features many desirable rental demographics, including a thriving job
market, and this property is ideally suited to our multifamily strategy
targeted at investing in renovation and improved property management to
Balfour Beatty Communities will deliver both property management and
asset management services for the property.
About Balfour Beatty Communities
Beatty Communities, LLC is a diversified real estate services
company delivering development, design, financing, construction,
renovation, property and facilities management services in the
multifamily, student and military housing sectors. A leader in the
industry, Balfour Beatty Communities has more than 50,000 residential
units and $6 billion in real estate assets under management and has
developed or renovated more than 29,000 units with a total value of
close to $4 billion. Headquartered outside Philadelphia, PA, Balfour
Beatty Communities has more than 1,200 employees and is a subsidiary of Balfour
Beatty Investments, Inc.
Balfour Beatty Investments is part of Balfour
Beatty plc, a global leader in construction services, support
services, and infrastructure investment.
About ApexOne Investment Partners
Investment Partners is a privately held real estate investment firm
and fund manager. Our platform was created to isolate, acquire, enhance
and operate multifamily real estate. Our leadership brings over 150
years and $15B of cumulative real estate experience to each investment.
We identify assets where a combination of physical enhancements and
focused asset management will have a positive influence on our community
residents resulting in maximizing investor returns and mitigating
Vice President, Marketing
Balfour Beatty Communities
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Schwazze Appoints Forrest Hoffmaster as Interim Chief Executive Officer
DENVER, Feb. 23, 2024 /PRNewswire/ — Medicine Man Technologies, Inc., operating as Schwazze, (OTCQX: SHWZ) (NEO: SHWZ) (“Schwazze” or the “Company”), today announced that Forrest Hoffmaster, the Company’s Chief Financial Officer, has been appointed to the additional role of interim Chief Executive Officer (“CEO”). This follows Nirup Krishnamurthy’s resignation as CEO and as a member of the Board of Directors (“Board”), effective February 20, 2024, due to personal reasons.
Mr. Hoffmaster, who joined the Company in January 2023, brings over 30 years of executive experience in finance and operations for both public and private companies. Prior to Schwazze, Mr. Hoffmaster served as CEO of New Seasons Market, a specialty gourmet food retailer, where he navigated the company through one of the most disruptive periods in the retail grocery industry. Under his leadership, Mr. Hoffmaster implemented a focused growth and cost optimization program, enabling the company to grow EBITDA by over 30% in two years. Prior to New Seasons Market, Forrest held leadership positions with other leading grocers including Whole Foods Market and H-E-B.
“Forrest is well-positioned to seamlessly step in and lead the Company’s day-to-day operations as we conduct our search for a permanent successor,” said Justin Dye, Chairman of the Board. “With Forrest’s proven track record and deep retail expertise, we plan to continue leveraging our operating playbook to drive strong Adjusted EBITDA margins and consistent cash flow generation. On behalf of the Board, I’d like to wish Nirup the best in his future endeavors.”
Schwazze (OTCQX: SHWZ) (NEO: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale.
Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector.
Medicine Man Technologies, Inc. was Schwazze’s former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc. Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth. To learn more about Schwazze, visit https://schwazze.com/.
This press release contains “forward-looking statements.” Such statements may be preceded by the words “may,” “will,” “could,” “would,” “should,” “expect,” “intends,” “plans,” “strategy,” “prospects,” “anticipate,” “believe,” “approximately,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” or the negative of these terms or other words of similar meaning in connection with a discussion of future events or future operating or financial performance, although the absence of these words does not necessarily mean that a statement is not forward-looking. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) regulatory limitations on our products and services and the uncertainty in the application of federal, state, and local laws to our business, and any changes in such laws; (ii) our ability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (iii) our ability to identify, consummate, and integrate anticipated acquisitions; (iv) general industry and economic conditions; (v) our ability to access adequate capital upon terms and conditions that are acceptable to us; (vi) our ability to pay interest and principal on outstanding debt when due; (vii) volatility in credit and market conditions; (viii) the loss of one or more key executives or other key employees; and (ix) other risks and uncertainties related to the cannabis market and our business strategy. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.
Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
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