YEAR END 2025
Dear Outlaw Real Estate Partners,
Season’s Greetings! As we close out 2025, we’re grateful for the opportunity to reflect on another successful year for Outlaw Real Estate Partners. The Bozeman Valley continues to grow at a more sustainable pace, which we believe supports the long-term health of this special place.
This year, we reached several meaningful milestones, including the completion of the majority of infrastructure at Urban + Farm; the delivery and full occupancy of the 88,000-square-foot showroom, office, and logistics facility for Ferguson Supplies in Belgrade; and the sale of over 90 percent of the residential homes and lots at Wildlands and Sandhill. These accomplishments reflect disciplined execution, strong partnerships, and continued market demand.
We also continued convening Southwest Montana’s development community on a biannual basis, hosting Senator Steve Daines and Congressman Ryan Zinke to strengthen communication, align priorities, and support a more resilient regional development ecosystem.
Stewardship remains central to our work. In 2025, we supported efforts to protect wildlife corridors, advanced conversations around wildlife crossings on Highway 191, and continued advocating for the long-term health of the Madison and Gallatin Rivers through the GYREAT Act. Responsible development and conservation—particularly of our rivers and watersheds—must go hand in hand.
Looking ahead to 2026, Urban + Farm will transition from infrastructure to neighborhood development as homes, amenities, and community spaces take shape. We will also advance planning and approvals for an additional 125,000+ square feet of industrial commercial real estate in Belgrade while continuing to evaluate opportunities across Outlaw’s broader landholdings.
As a token of appreciation, we look forward to sharing an experience together—whether a ski day this winter, joining us in the Outlaw Skybox at PBR Big Sky on July 16, 2026, or an exclusive Middle Fork of the Salmon river trip in August 2026. Please RSVP to Ashley Keller at ashley@outlaw.realty.
Warm regards,
Eric, Mike & the Outlaw team
ASSETS UNDER MANAGEMENT & DEVELOPMENT
10 ASSETS UNDER MANAGEMENT
8 PROJECT IN DEVELOPMENT
DEVELOPMENT INVESTMENT TO-DATE $315M
HOUSING UNITS (COMPLETED / UNDER CONSTRUCTION) 114
COMMERCIAL SQ FT (COMPLETED / UNDER CONSTRUCTION) 110K
NEW EQUITY INVESTMENT OPPORTUNITY (12-24 MONTHS) $150M+
Location: Bozeman
Project Type: Residential Mixed-Use
Wildlands, our flagship development, has fully taken root in Bozeman’s Northeast Neighborhood, emerging as a true anchor for the community and a destination for locals and visitors alike. With its diverse tenants, Wild Crumb Bakery, Fink’s Deli, Beringia, Physical Space, Echo Arts, & Biome Slow Craft Collective, Wildlands serves as a vibrant hub for residents and the community to socialize and celebrate. With eleven residences successfully sold and one remaining, Wildlands is a proud achievement for Outlaw.
Location: West Bozeman
Project Type: Master Planned Agrihood Community
Located in the rapidly growing West Bozeman submarket, Urban + Farm is establishing a new village within the city, with thoughtfully designed residential neighborhoods, a vibrant commercial core, and an expansive network of parks, trails, and open space. The community offers a diverse mix of housing options alongside walkable amenities that support daily life and long-term growth.
With the majority of infrastructure, parks, and open space completed this year, the site has fully transitioned from concept to reality. This milestone brings the original vision to life, creating a strong sense of place and setting the foundation for a connected, community-driven neighborhood on Bozeman’s west side.
Location: West Bozeman (Urban + Farm)
Project Type: Multi-Family (For Rent)
In 2022, Outlaw Real Estate Partners achieved a significant milestone by completing the Millhouse apartments, the inaugural residential offering within the vibrant Urban + Farm mixed-use community. These 36 two-bedroom garden-style apartments boast expansive living spaces, picturesque mountain vistas, convenient access to Ferguson Farm’s dining and shopping options, and the added bonus of communal green areas.
Location: West Bozeman (Urban + Farm)
Project Type: Single-Family (For-Rent)
The Grange Residences mark the second vertical development venture undertaken by Outlaw Real Estate Partners within the expansive Urban + Farm community. Situated on 2.1± acres, this development represents Bozeman’s pioneering Single Family Rental community, a direct response to the growing influx of young families making Bozeman their home.
In 2025, Outlaw assumed responsibility for the asset management and development of a $50 million portfolio in Big Sky, Montana. The portfolio comprises a diverse mix of land, commercial, mixed-use, and residential assets. Key holdings include the Yellowtail development, 48 Market Place in Meadow Village, the Peaks Center building in Town Center, and the development rights at the Elkhorn Creek Lodges at the Resort. Outlaw is honored to serve as steward of these assets on behalf of investors committed to the long-term growth of Big Sky.
