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Bridger Aerospace Sells Bozeman Hangars in 10-Year Leaseback Deal

Bridger Aerospace Sells Bozeman Hangars in 10-Year Leaseback Deal
SR Aviation Infrastructure (SRAI), a subsidiary of the real estate investment and development firm SomeraRoad, has acquired the Bridger Hangar Complex at Bozeman Yellowstone International Airport (BZN) in Bozeman, Montana. The transaction, announced on October 28, 2025, was completed with Bridger Aerospace Group Holdings, Inc. (NASDAQ: BAER) through a 10-year leaseback agreement. This arrangement allows Bridger Aerospace to continue operating from the three-hangar, 118,000-square-foot facility, which remains the company’s headquarters.
Strategic Acquisition and Expansion Plans
The acquisition includes a fully entitled development site where SRAI intends to build an additional 40,000-square-foot hangar to meet the increasing demand for aviation infrastructure in the region. Bozeman Yellowstone International Airport is recognized as one of the fastest-growing airports in the United States, serving key destinations such as Big Sky Ski Resort and Yellowstone National Park. Jonathon Reeser, President of SR Aviation Infrastructure, emphasized the market’s potential, stating that Bozeman offers significant opportunities for private and general aviation infrastructure. He highlighted that the acquisition aligns with SRAI’s strategy to focus on well-located, institutional-quality aviation assets with strong tenant credit and clear value-creation prospects. The planned expansion aims to address the shortage of hangar space in the area.
Monte Koch, Senior Advisor at SRAI, further noted that Bozeman represents a prime market for the company’s investment approach. He underscored SRAI’s ability to identify opportunities swiftly while reinvesting in and enhancing existing assets. Koch expressed confidence in the market’s current strength and the development opportunities that will influence its future growth.
Implications for Bridger Aerospace and the Aviation Market
Bridger Aerospace, one of the largest aerial firefighting companies in the United States, provides wildfire management services to federal and state agencies domestically and internationally. The leaseback structure ensures operational continuity for Bridger Aerospace, allowing it to maintain its headquarters and ongoing activities at the Bozeman facility. However, this arrangement also presents potential challenges. Bridger Aerospace must ensure that SRAI, as the new property owner, can meet its operational needs over the lease term. Additionally, fluctuations in the aviation real estate market could affect future lease terms, while competitors may pursue similar facility arrangements to enhance their own operational capabilities.
The deal has attracted attention from investors and industry analysts who are evaluating the financial implications of the leaseback structure. While the transaction provides Bridger Aerospace with immediate capital and secures its headquarters, it also commits the company to long-term lease obligations that may be influenced by changes in the aviation real estate market.
SRAI’s investment platform specializes in acquiring, developing, and leasing aviation-related real estate, including hangar space for based aircraft, corporate flight departments, government entities, fixed-base operators (FBOs), maintenance, repair and overhaul (MRO) providers, flight schools, charter services, and management companies nationwide. The Bridger Hangar Complex represents SRAI’s third acquisition, joining its portfolio alongside Quail Air Center in Las Vegas and a private hangar complex at San Antonio International Airport.
For further information, visit SR Aviation Infrastructure or SomeraRoad.

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