19th & Graf Apartment Homes in Bozeman, Montana

Berkadia Arranges $72.9 Million for Phase Two of 19th & Graf Apartment Homes in Bozeman, Montana

by Channing Hamilton

BOZEMAN, MONT. — Berkadia has arranged $72.9 million in construction financing for the second phase of the existing 19th & Graf Apartment Homes in Bozeman. The second phase of the project will include 260 units in one-, two- and three-bedroom layouts. Amenities will include a clubhouse with a community room, fitness center, yoga studio, game room, resident lounge, business center, sports simulator and a pool with cabanas, outdoor grilling stations and lawn games. Construction on the entire project is set to be completed by September 2025.

The general contractor is Dick Anderson Construction, and KEPHART is the architect of record. Jennifer Quigley of Berkadia’s Denver office arranged the financing on behalf of the borrower, Montana-based BlackRidge Cos. The 40-year construction loan was financed through HUD’s Green Program and features a 5.8 percent interest rate.

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