Malvern-based national residential real estate investment and management company Balfour Beatty Communities has acquired Landings at Lake Gray, a 300-unit apartment community located in Jacksonville, Florida. The purchase was completed in partnership with Houston-based real estate investment firm ApexOne Investment Partners.

Developed in 2005, Landings at Lake Gray offers one-, two- and three-bedroom layouts averaging 952 square feet on a 14-acre property. Located in West Jacksonville, Landings at Lake Gray is close to Interstate 295.

Renovation plans for Landings at Lake Gray are scheduled to commence immediately and will include additional improvements to landscaping and curb appeal, an upgraded amenity package, and interior renovations to further modernize kitchens, lighting and flooring.