Thrive Development Secures $70 Million Construction Loan For Artisan Grove In Helena, Montana

The asset involved in this transaction is a development site located at 2605 North Sanders Street in Helena, Montana. The site is intended for a multifamily development consisting of 288 units. The loan amount secured for this project is $70,000,000 through construction financing backed by HUD under the 221(d)(4) program.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $70,000,000
• Address: 2605 North Sanders Street
• Market: Helena, MT
• Landlord: Thrive Development
• Broker: Jennifer Quigley - Berkadia
• Loan Type: Construction

This transaction was facilitated by Jennifer Quigley of Berkadia, who represents Thrive Development in the financing for this significant multifamily project. The financing secured will support the construction of Artisan Grove, highlighting the collaboration between the involved parties to advance this development in Helena.