REBusinessOnline

ACRES Capital Originates $29.2M Construction Loan for Babcock Apartments in Montana

BOZEMAN, MONT. — ACRES Capital Corp. has originated a $29.2 million loan to fund the construction of Babcock Apartments, a multifamily property located at 1612 and 1624 W. Babcock St. in Bozeman.The borrower is Roundhouse Development, a fully integrated developer and operator of multifamily housing. Los Angeles-based George Smith Partners arranged the loan.Babcock Apartments will feature 95 apartments, 105 parking spaces and 2,300 square feet of ground-floor retail space. Units will …

Stan Johnson Negotiates $4.1M Sale of FedEx-Occupied Industrial Building in Helena, Montana

HELENA, MONT. — Stan Johnson Co. has arranged the sale of an industrial property located at 876 Blaine St. in Helena. A Laguna Beach, Calif.-based private investor sold the asset to a Jacksonville, Ore.-based private investor for $4.1 million.FedEx Ground occupies the 22,251-square-foot building, which was constructed as a build-to-suit for the company in 2014. Additionally, the asset is situated on 6.3 acres adjacent to the Helena Regional Airport and Interstate 15.FedEx has …

TPG Real Estate, Cardinal Group Acquire 887-Bed Student Housing Property Near Montana State

BOZEMAN, MONT. — A joint venture between TPG Real Estate Partners and Cardinal Group Investment Management has acquired The Arrow Townhomes and Flats, an 887-bed student housing community located near the Montana State University campus in Bozeman.Constructed in 2019, the property offers a mix of one-, two-, three-, four- and five-bedroom units with bed-to-bath parity. Shared amenities include a resort-style swimming pool, state-of-the-art fitness center, 24-hour clubhouse, sauna, steam …

Brinkman Enters Montana Market, Acquires 128-Unit King West One Apartments in Billings

BILLINGS, MONT. — Brinkman Real Estate, in partnership with Blue Field Capital, has purchased King West One, an apartment property in Billings. The acquisition is Brinkman’s first in Montana.Built in 2009, King West One features 128 two-story, townhome-style apartments ranging from 680 square feet to 1,100 square feet with individual detached garages. The complex is spread across 13 buildings. At the time of sale, the property was nearly 100 percent occupied.Terms of the transaction …

Senior Living Investment Brokerage Negotiates Sale of Two Communities in Montana, Wyoming

CODY, WY., AND GREAT FALLS, MONT. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living communities, located in Cody and Great Falls. The portfolio totals 107 units of assisted living and independent living.The buyer is an Oregon-based regional owner-operator familiar with the region. The seller and price were not disclosed.Bradley Clousing, Jason Punzel and Jeff Binder of SLIB handled the

Ziegler Arranges $42.6M Acquisition Financing for Three-Property Seniors Housing Portfolio in Northwest

BOZEMAN, MONT., AND SEATTLE — Ziegler has arranged $42.6 million in financing for the acquisition of two seniors housing properties near Seattle and another in Bozeman.The borrower is Radiant Senior Living, which has brought the three properties into its portfolio. The financing consisted of a combination of senior and mezzanine debt, with Congressional Bank providing the senior debt and a national seniors housing fund providing the mezzanine debt.Radiant acquired the portfolio from …

Monticello Provides $2M in Working Capital for 338-Bed Skilled Nursing Portfolio in Montana

MONTANA — Monticello has provided a $2 million working capital loan to the operating companies of two skilled nursing facilities totaling 338 beds in Montana.Monticello’s asset-based lending group, Monticello Commercial Capital LLC, provided the financing. No further details were

CareTrust Buys Two Skilled Nursing Facilities in Montana for $16.5M

HELENA AND CLANCY, MONT. — CareTrust REIT Inc. (NASDAQ: CTRE) has acquired two skilled nursing facilities in an off-market transaction.The first property is Apple Rehab Cooney, an 80-bed facility located on the campus of the St. Peter’s Health Regional Medical Center in Helena. The second is Elkhorn Healthcare & Rehabilitation, a 70-bed facility located in neighboring Clancy.National skilled nursing operator Eduro Healthcare will manage the communities. The transaction was …

Bellwether Enterprise Closes $294.2M in Financing for 22 Manufactured Housing Communities Nationwide

DENVER — Bellwether Enterprise Real Estate Capital has closed four transactions totaling $294.2 million in Fannie Mae loans for manufactured housing communities across the United States. MJ Vukovich of Bellwether’s Denver office, along with Ghazy Grijalva of the firm’s Chicago office, arranged the deals.In total the financing covers 5,554 pad sites across the five transactions. The deals include:A $28 million loan for two manufactured housing assets located in Montana on behalf …

Blueprint Directs Sale of 338-Bed Skilled Nursing Portfolio in Montana

MONTANA — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities totaling 338 beds in Montana.The seller is a national operator that was looking to leave the state to focus on other markets. The undisclosed buyer assumed the seller’s HUD debt against the properties.The price and locations of the facilities were not

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