Brinkman Real Estate Acquires Billings Community, Eyes Further Expansion into Montana and Intermountain West
King West One, located at 4301 King Avenue West, offers two-story, town-home style apartments with a detached garage for each unit. There are 13 total buildings and the units range from 680 to 1,100 SF. Built in 2009, the property is located less than ½ mile from Shiloh Crossing, the largest lifestyle retail center in Montana, and amidst numerous major employers like Billings Clinic, St. Vincent Healthcare and Stillwater Mining Co., recreation areas and Montana State University Billings and University of Mary – Billings Campus.
With a focus on core plus and value add acquisitions in secondary/tertiary markets throughout the Intermountain West, this property was a strategic addition to Brinkman’s growing real estate portfolio. They were drawn to the forward momentum of the Billings market and the operational upside of the property.
They will quickly execute on numerous property upgrades to further enhance the living experience for current and future tenants.
“King West One is a perfect fit for our portfolio. We’ve built our reputation through the strategic management of multi-family assets in secondary and tertiary markets,” said Brett Silverstein, Brinkman’s Director of Acquisitions. “We are attracted to the strength and positive momentum of the Billings market. We are actively seeking additional acquisition opportunities in Montana and throughout the Intermountain West.”
Brinkman Real Estate is headquartered in Fort Collins, Colo., a strong tertiary market in Northern Colorado with many attributes similar to Billings. Since its founding in 2005, the company has found a niche in owning and acquiring properties in these emerging markets with steady economic drivers. Their portfolio includes multi-family, hospitality, office, retail and mixed-use properties.
In the past 18 months, Brinkman has executed on over $200,000,000 in transaction volume. This includes the acquisitions of a large multi-family community outside of Salt Lake City, a workforce housing community in the suburbs of Denver and a short-term rental community in Vail, Colo. At the beginning of 2021, they sold an existing multi-family community outside the Denver MSA for a record-breaking price. They will continue to recycle the proceeds of that disposition into future acquisitions, primarily focused on multi-family and hospitality assets.Back to News