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March 24, 2022

Berkadia secures $51M for Bozeman units

Over in its Denver office, Berkadia announced its recent role in securing a nearly $51 million loan for a new multifamily project in Bozeman, Montana. Managing director Jennifer Quigley provided the construction loan for the 2131 Graf apartments, which are expected to break ground soon. BlackRidge Companies is the borrower and developer. The project will have 195 units. BlackRidge’s Will Ralph said in a statement, “Bozeman is in significant need of rental housing and 2131 Graf will provide an additional high quality housing option for the residents of Bozeman.” Completion is expected by the fall of next year. Berkadia, based here, said the funding came via through HUD’s Green Program, with a 40-year term and a 3.03% interest rate.




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