BOZEMAN, MONT. — JLL Capital Markets has arranged the $32 million construction financing and the $15 million equity placement for the development of Freestone on Main in Bozeman. JLL worked on behalf of the sponsor, Reuter Walton, to secure the three-year, floating-rate loan through a regional bank. JLL also sourced the joint venture equity from a real estate investment manager. Mox Gunderson, Scott Loving and Adam Haydon led the JLL Capital Markets team.
Freestone on Main will comprise 121 apartments in studio, one- and two-bedroom floor plans. The property will also include 127 stalls of underground parking, 15 stalls of surface parking, 222 bike parking stalls, 65 ski lockers and 900 square feet of retail space. Amenities will include indoor and outdoor lounges, courtyard with a hot tub and sauna, fitness and yoga studio, pet spa, coffee taps, a library, co-working spaces, ski and snowboard storage and underground heated parking.