BOZEMAN, MONT. — Montana-based BlackRidge Cos. has obtained $50.9 million in construction financing for the development of 2131 Graf, a garden-style apartment community in Bozeman.
Located at the intersection of Graf Street and South 19th Avenue, 2131 Graf will include 195 residential units, including 72 one-bedroom units, 97 two-bedroom units and 26 three-bedroom units. Community amenities will include a clubhouse with a community room, fitness center, spa, barbecue grilling stations, a firepit, lawn games and an onsite management office.
Completion is slated for September 2023.
Jennifer Quigley of Berkadia Denver secured the permanent construction financing on behalf of the borrower. The 221(d)(4) construction loan, financed through HUD’s green building program, features a 40-year term and 3.03 percent interest rate.