Greenway Development Secures $35.8M Construction Loan For Parkline Towers Multifamily

The development of Parkline Towers located at 820 E Idaho Street in Kalispell, MT has been financed through a construction loan. The loan amount for this multifamily property is $35,820,098. The loan was obtained from Stockman Bank and facilitated by Greenway Development as the landlord. The project was brokered by Matthew Stearns and Zach Lutwak-Fitzgerald of Black Bear Capital Partners.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $35,820,098
• Borrower: Greenway Development
• Lender: Stockman Bank
• Brokers: Matthew Stearns & Zach Lutwak-Fitzgerald - Black Bear Capital Partners

The construction loan obtained for the development of Parkline Towers spans a 30-month fixed-rate term on a full-term interest-only basis. The loan allows for the construction of 224 units within the property.