February 26, 2008
British firm to buy BNAS housing
A British firm is planning to buy a private military housing business based in Pennsylvania that owns 702 housing units at the Brunswick Naval Air Station.
In total, Balfour Beatty PLC will purchase 30,000 units from GMH Military Housing for $350 million if the military approves the deal, the Times Record in Brunswick reported. The vast majority of these units are located on bases not slated for closure like BNAS.
Although the 702 units in Brunswick and Topsham are privately owned by GMH, the land underneath them is owned by the Navy, making it unclear how the deeds will be merged by the time the base closes in 2011, the paper reported. A GMH spokesman told the Times Record he was unsure how the new owners would interact with local base reuse planners. Federal policies prevent a private company from simply purchasing Navy land.
In total, Balfour Beatty PLC will purchase 30,000 units from GMH Military Housing for $350 million if the military approves the deal, the Times Record in Brunswick reported. The vast majority of these units are located on bases not slated for closure like BNAS.
Although the 702 units in Brunswick and Topsham are privately owned by GMH, the land underneath them is owned by the Navy, making it unclear how the deeds will be merged by the time the base closes in 2011, the paper reported. A GMH spokesman told the Times Record he was unsure how the new owners would interact with local base reuse planners. Federal policies prevent a private company from simply purchasing Navy land.
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