April 8, 2021

Argosy Real Estate Partners Acquires Opportunity Zone Site for Multifamily Development in Bozeman, MT

We are pleased to announce that Argosy Real Estate Partners has acquired an approximately five-acre, fully-entitled site in Bozeman, Montana for the ground-up development of The Annex of Bozeman, a 134-unit workforce multifamily housing community.

The project will consist of a four-story, surface-parked, wood-frame building featuring a mix of studio, one-bedroom, two-bedroom, and three-bedroom units. Amenities will include a fitness center, lounge, covered bicycle storage, ski storage, and a rooftop deck with unobstructed mountain views. In addition, the project will have an approximately 1/3-acre park located on the northeast quadrant of the site. Residents of the project, which is within walking distance to Montana State University (“MSU”), will include a mix of young professionals, MSU faculty and staff, and students. The investment provides the opportunity to develop a new multifamily property in a high barrier-to-entry, rapidly growing market with a severe shortage of workforce housing, while obtaining the benefits of investing within a Qualified Opportunity Zone.

The project will be developed in partnership with The Annex Group, a leading workforce, affordable and student housing developer with a portfolio of communities valued at more than $500 million. Founded in 2007, The Annex Group focuses on the development of affordable, student and workforce housing in emerging markets.