Brinkman Real Estate acquired Brooklyn West Apartments at 3904 Mullan Road in Missoula, MT, from Commonwealth Brooklyn West, adding 171 units to their growing Montana portfolio. Brinkman Real Estate’s Chief Financial Officer Pete Yoo negotiated deal terms including mini-perm financing with a 4.98% interest rate with Huntington Bank arranged by Jordan Butts in Fort Collins. The seller was represented by Clay Anderson and Spencer Hansen of Colliers.

“This is a highly attractive market, and the asset is in great condition,” reported Chief Acquisitions Officer Brett Silverstein. “We have plans for light renovations to further enhance the living experience for our tenants.”

The planned upgrades include enhancements to landscaping and the community picnic area, as well as interior renovations such as updated flooring, lighting, countertops, and smart home packages.

Brooklyn West Apartments is a 2018 vintage, 171-unit multifamily community located in the Westside neighborhood, less than 10 minutes from the Clark Fork River access, downtown, the Missoula Montana Airport, and dozens of trails and parks. The city has become a highly sought-after market for multifamily buyers due to its population growth, relative affordability, and historically low vacancy and unemployment rates.

“We’re excited to continue growing our footprint in Montana,” said Brinkman Real Estate’s CEO, Kevin Brinkman. “We’ve seen tremendous success with our other assets in the state and Missoula has all the fundamentals that support real estate investment.”

This acquisition fits the profile of Brinkman Real Estate’s portfolio comprised of core-plus and value-add assets in markets with outsized population and job growth trends. They’ve set a blistering pace this year acquiring five assets and deploying over $125 million in the last nine months in markets throughout the Intermountain West including Salt Lake City, Utah, Albuquerque, N.M., and Salem, Ore. While their current portfolio includes a diversity in assets, the company sees the multifamily sector as the biggest opportunity within the current economic landscape.

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