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3/23/26
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An unnamed private investor has obtained a $27.5 mil bridge loan to refinance maturing debt for a component of the Spring Prairie Commons power retail center in Kalispell, MT.
The 182.7k sf center is anchored by Kohls, Hobby Lobby, REI, Old Navy and HomeGoods. The inline property is located at 2260 Highway 93 N, within a master-planned development defining Kalispell’s regional retail district near the west entrance to Glacier National Park.
Gantry’s Joe Monteleone, Principal, and Rulin Dai, Associate, with the firm’s St. Louis production office represented the borrower in the transaction. The variable rate, non-recourse bridge loan was secured from a national bank and offers full-term interest only.
“Retail assets remain strong performers in the current market cycle and Spring Prairie Commons is no exception,” commented Monteleone. “After achieving 100% occupancy of the major and minor anchor spaces at this inline component of the larger master-planned center, maturing debt on the project was refinanced with a bridge loan optimized to support the property through to long-term stabilized performance.”
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