Brinkman Enters Montana Market; Continues Execution of Intermountain West Acquisitions Strategy
Located in Montana’s largest city, King West One offers two-story, town-home style apartments across 13 buildings with a detached garage for each unit. The units range from 680 to 1,100 SF and the project is nearly 100% occupied. Built in 2009, the property is located less than ½ mile from the largest lifestyle retail center in Montana and amidst numerous major employers, recreation areas and higher education institutions.
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.
“King West One is a perfect fit for our portfolio. We’ve built our reputation leveraging the opportunities for strong performance of multi-family assets presented in secondary and tertiary markets,” said Brett Silverstein, Brinkman’s Director of Acquisitions. “Throughout 2021, we will be aggressively focused on identifying additional acquisition opportunities throughout the Intermountain West.”
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