ACRES Capital has originated a $29.2 million loan to fund the construction of Babcock Apartments, a nearly 80,000-square-foot multifamily building located in Bozeman, Montana.
The loan is provided to sponsor Roundhouse Development, a fully integrated developer and operator of multifamily housing and the largest multifamily developer in Idaho and Montana, with $1.1 billion in multifamily assets and 4,000 units under management or in its development pipeline.
Babcock Apartments will feature:
• 95 Rental Units
• High-end exterior and interior finishes
• 105 Parking Spaces
• 2,300 Square feet of ground-floor retail space
• Fitness center, tenant lounge, open space areas and individual storage units
Babcock Apartments is located just west of downtown Bozeman and approximately half a mile north of Montana State University, the largest employer in Bozeman. It sits within walkable distance to retail and entertainment establishments, restaurants, schools and public green spaces. Additionally, the Property resides within proximity to major attractions such as Yellowstone National Park and Big Sky Resort.