B
rinkman Real Estate, a Colorado-based multifamily investment firm, has acquired The Meridian Apartments in Kalispell, Montana. This 180-unit Class A community is the company's fourth acquisition in the state and expands its presence in Flathead County, where it also owns The Highline Apartments.

    The purchase price was secured at a significant discount compared to similar assets in similarly constrained markets. Brinkman's capital markets team worked with Greystone's debt team to execute a Fannie Mae loan assumption and close on a supplemental loan. The team navigated a complex due diligence process to maximize returns and position the asset for success.

    "We've seen firsthand the strength of this region through our success at The Highline," said Larry Braud, VP of Investments at Brinkman Real Estate. "Kalispell's fundamentals – job growth, low unemployment, business-friendly environment, and limited new supply – make it an attractive market."

    Kalispell is Montana's fastest-growing region, with 18% population growth over the last decade. Its economy is driven by healthcare, tourism tied to Glacier National Park, and growing interest from remote workers and tech entrepreneurs seeking a high quality of life. Flathead County boasts the state's lowest unemployment rate at 2.7%, nearly 50% below the national average.

    The Meridian Apartments, built in 2023, feature studios, one-bedroom, and two-bedroom units with quartz countertops, stainless steel appliances, and keyless entry. Brinkman plans to enhance the resident experience through targeted improvements such as in-unit laundry additions, fencing for first-floor studios, and upgrades to shared outdoor areas. Operational efficiencies will be realized by leveraging its relationship with Entrust Property Solutions, which also manages The Highline.