Wren Investment Group, LLC & Affiliates in the news: Tower Hill – A 50 unit Apartment community in Helena, Montana

On May 3, 2012 by Phil Champagne


Southwest Montana Properties LLC Closes 50-Unit Apartment Community in Helena, Montana

Helena, Mont., April 2, 2012 /Newswire/ — Southwest Montana Properties LLC has acquired Tower Hill Apartments, a 50-unit community located in Helena, Montana.  Southwest Montana Properties worked with James Powell of Wells Fargo to arrange the financing for the purchase.  Richard “Dick” Klein of JAR Development represented the seller, Joseph B. Reber & Sons Partnership, in the transaction.
Built in 1978, the property consists of three buildings and structured parking. The property has an attractive unit mix with 30% one-bedroom units, 60% two-bedroom units, and 10% three-bedroom units along with a diverse amenity package.  It is ideally located near many of Helena’s main retail destinations near the heart of downtown Helena.
Chad Laird, Managing Partner for Southwest Montana Properties, comments, “We just don’t see many opportunities to acquire larger multifamily properties in Helena. This property is ideally located near several retail destinations and the vibrant downtown of our state capital.”  Mr. Laird goes on to say, “Given the spread between current rents and the rents of many properties in the area, we see a clear opportunity to build on the foundation laid by the seller. We have a capital improvement plan to invest additional capital in interior upgrades along with the exteriors, additional amenities, and the interior courtyard.”
Mr. Laird, added, “Tower Hill is a great example of what we are targeting: properties with solid in-place numbers with additional value add potential.  Additionally, we saw a strong recovery in the capital markets in 2011 and we see that trend continuing through 2012.  The multifamily sector should therefore be well positioned to continue the robust growth that we have now seen take hold in Montana & other healthy submarkets throughout the U.S.”
About Southwest Montana Properties LLC: Southwest Montana Properties LLC (http://www.southwestmontanaproperties.com) specializes in multifamily real estate investment in emerging markets throughout the United States and Canada, sourcing stabilized, value-add apartment properties located in stable sub-markets which are poised for growth.  These properties are then aggressively repositioned to effect: 1) Revenue maximization through targeted capital improvement; 2) Cost containment through the implementation of institutional asset & property management.  Southwest Montana Properties strategically targets exit from dramatically appreciated assets timed to coincide with an optimal position in the local market cycle.  Hold windows average five to seven years.
If you’d like to schedule an interview with one of the partners, please call Chad Laird (406-582-7853) or e-mail at chadlaird@southwestmontanaproperties.com

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