Northmarq arranges $50M bridge loan for two-property manufactured housing portfolio in Bozeman, MT
BOZEMAN, Mont. — Northmarq's Newport Beach Debt + Equity deal team, led by Scott Botsford and David Blum, arranged $50 million in acquisition financing for a two-property manufactured housing portfolio totaling 338 spaces located in Bozeman, Montana.
The portfolio includes:
- The King Arthur | 81 Gallahad Way, Bozeman, Mont. | 210 spaces.
- Mountain Meadows | 1 Eastwood Dr., Bozeman, Mont. | 128 spaces.
The $50 million financing will facilitate the acquisition and renovation of the properties and was provided by Prime Finance. The transaction was structured as a five-year floating rate first mortgage loan and provides future funding for property improvements, prepayment flexibility and interest only through the term of the loan.
“This was a fast-moving transaction, and we are excited about the outcome on behalf of our client. The lender, Prime Finance, is one of the most active and capable lenders in the manufactured housing space, and they delivered on every front — offering the best combination of loan proceeds, spread and structure,” said Botsford. “The lender provided additional assurances before the buyer went non-refundable, which was critical to getting this deal across the finish line.”
Both communities operate at 100% occupancy and together represent approximately 30% of Bozeman's total manufactured housing inventory. King Arthur sits on roughly 45.5 acres, while Mountain Meadows occupies approximately 27.5 acres. The two properties are located less than two miles apart, creating operational efficiencies through shared management and maintenance. Community amenities include a clubhouse, swimming pool and playground.
Meet our team
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
