ICM Asset Management Announces Investment in Mary Jane Residential Development
(September 2025 – Calgary, Alberta) – ICM Asset Management (“ICM”) is pleased to announce its investment in Mary Jane, a 162-unit for-sale residential community located in Missoula, Montana. The development will feature 42 single family detached homes and 120 townhomes designed to meet the growing housing needs of one of the most dynamic communities in the Western United States. Construction is expected to commence in Q2 2026, with completion pegged for Q1 2031.
The project will be ICM’s fourth community development with Miramonte Homes, a respected single-family and multifamily builder with more than 30 years of experience across the Western U.S. Miramonte has a long track record of designing and constructing high-quality, market-responsive housing, including having successfully delivered projects in the Missoula market.
“Our partnership with Miramonte Homes brings together deep local expertise and ICM’s investment discipline to deliver a thoughtfully designed community for Missoula. Mary Jane reflects our focus on markets with strong demographic tailwinds and critical housing shortages, where we can deliver projects that serve both residents and long-term investors.”
– Spencer Patton, Managing Director USA, ICM Asset Management
ICM’s investment thesis centers on the housing shortage in Missoula, which faces an undersupply of 2,000-3,000 units and a projected need of up to 23,750 units by 2045. Sustained housing demand is expected to average 1,150-1,450 new units annually over the next decade. Beyond addressing these structural imbalances, ICM’s selection criteria emphasizes strong fundamentals such as quality-of-life amenities, population and employment growth, access to higher education, robust healthcare, retail and entertainment infrastructure, and regional connectivity through Missoula Montana Airport.
About ICM Asset Management
ICM Asset Management is a registered alternative asset management firm focused on owning, operating, and investing in real assets. Founded in 2003, ICM has grown to manage over $2 billion in assets across a range of strategies, including real estate, private equity, and alternative investments. With offices in Calgary, Atlanta, Munich, and Mexico City, ICM serves a global investor base that includes institutions, family offices, and accredited investors.