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


The Arrow Townhomes and Flats is located adjacent to the Montana State University campus in Bozeman.

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 room and multiple study areas.

Berkadia represented the undisclosed seller in the transaction. CBRE advised on debt for the acquisition, which was added to a Fannie Mae credit facility formed by the joint venture.

Cardinal Group Management will manage the property; Cardinal Group Construction will manage planned value-add construction; and Agency Fifty3 will provide marketing and branding services for the community.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

Webinars on Demand


Subscribe to the newsletter

Read the Digital Editions

Texas Affordable Housing Business

Southeast Affordable Housing Business

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties  

2021 Finance Insight Video Interviews