We acquired 153 acres of raw land in Belgrade, near Bozeman, Montana. Our plan was approved for 601 lots in 2018. Sales have been ahead of schedule as housing inventory is low in Bozeman and more people moved to remote locations due to Covid-19. Higher interest rates have slowed sales a bit, but we anticipated that and have plenty of reserves on hand. Investors are expecting a 15% preferred return plus a share of profits.
Prescott Ranch – Residential Development
Status: Closed but In-Progress