REBusinessOnline

SLIB Negotiates Sale of 159-Unit Big Sky Senior Living in Butte, Montana

BUTTE, MONT. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Big Sky Senior Living in Butte.The community features 159 units of independent living, assisted living and memory care. The 87,000-square-foot asset was built in 1997 and sits on 11.3 acres of land.The seller is a locally based regional owner-operator. The buyer is a regional owner-operator based in the West that is expanding in the Mountain West. The price was not disclosed.Jason Punzel, Brad …

BlackRidge Cos. Receives $50.9M in Construction Financing for Multifamily Property in Bozeman, Montana

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 …

Harrison Street Sells Five Seniors Housing Properties in Oregon, Montana to Springs Living for $193.5M

MEDFORD AND EUGENE, ORE., AND BUTTE AND BILLINGS, MONT. — Harrison Street has completed the disposition of five senior housing properties valued at $193.5 million to The Springs Living. The properties were held across several of Harrison Street’s U.S Opportunity Funds and related co-investment vehicles.The portfolio consists of 622 independent living, assisted living and memory care units in Medford, Eugene, Butte and Billings. As of December 2021, the properties had an average …

LTC Provides $25M Recapitalization for Five-Property Seniors Housing Portfolio in Oregon, Montana

OREGON AND MONTANA — LTC Properties Inc. (NYSE: LTC) has originated a $25 million mezzanine loan for the recapitalization of a five-property seniors housing portfolio.The loan has a term of five years and two months, with two one-year extension options. It bears interest at 8 percent, with an internal rate of return of 11 percent.Located in Oregon and Montana, The Springs Living operates the five communities, which include independent living, assisted living and memory care and total …

Citivest Commercial, Sage Investco Acquire 116,992 SF Retail Property in Helena, Montana

HELENA, MONT. — Citivest Commercial Investments and Sage Investco have purchased a former department store building in Helena for an undisclosed price. The 116,992-square-foot asset also includes two pad development opportunities, with one ground finalized and another in negotiations.Shopko formerly occupied the building, which is situated within a larger center anchored by Albertsons, Target, JoAnn, Ross Dress for Less and other retailers.The buyers plan to implement a renovation …

George Smith Partners Secures $46M Construction Loan for 400-Unit Multifamily Property in Bozeman, Montana

BOZEMAN, MONT. — George Smith Partners has secured a $46 million construction loan for the phased development of 400 apartment units located within an Opportunity Zone in Bozeman. The borrower is Roundhouse Development.Jonathan Lee and Paul Monsen of George Smith Partners secured the financing for the borrower. For the first 268 units, the loan is priced at a sub 3 percent rate. Construction of the first phase is expected to finish in late 2023, at which time the construction on the …

Lee & Associates Brokers Sale of 145,637 SF West Park Promenade Shopping Center in Billings, Montana

BILLINGS, MONT. — Lee & Associates has arranged the sale West Park Promenade, a retail center in Billings. A Ketchum, Idaho-based private investor sold the property to a Bellevue, Wash.-based 1031 exchange investor for an undisclosed price.A new Town & Country Foods anchors the 145,637-square-foot retail center, which is situated on 12 acres. The asset recently underwent a $13 million renovation to transform from a mall to a community shopping center. Other current tenants include …

Dwight Capital Provides $34.2M Loan for Shiloh Commons Mixed-Use Property in Billings, Montana

BILLINGS, MONT. — Dwight Capital has closed a $34.2 million HUD 223(f) loan for Shiloh Commons, a mixed-use project located in Billings.Situated on 7.4 acres, the community features four four-story buildings offering 144 residential units and more than 60,000 square feet of retail, office and restaurant space. Community amenities include a fitness center, rooftop picnic area with barbecue stations, concierge services and on-site management. Each building has a one-level underground …

Wood Investments Acquires 67,000 SF Vacant Retail Building in Billings, Montana

BILLINGS, MONT. — Wood Investments Cos. has purchased a vacant retail building situated on 5.19 acres at 2618 King Ave. West in Billings. Billings-based Wilson-Taylor Partnership sold the asset for $4.6 million.Formerly occupied by Big Bear Sports Center, the building features 67,000 square feet of retail space. By the close of escrow, Wood Investments had secured leases with HomeGoods, Sierra Trading Post and Petco to occupy the multi-tenant building. Wood Investments will redevelop the …

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 …

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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