REBusinessOnline

JLL Capital Markets Arranges $274.4M Refinancing for Six-Property West Coast Retail Portfolio

SEATTLE; BOISE, IDAHO; AND SALT LAKE CITY — JLL Capital Markets has secured $274.4 million in financing for a six-property portfolio of core-quality retail properties totaling 2.7 million square feet across Seattle, Boise and Salt Lake City.The borrower is a joint venture between CenterCal Properties and a large pension fund and its advisors Principal and PCCP. The financing includes five separate 10-year, fixed-rate, non-recourse CMBS loans provided by JP Morgan Chase. Loan proceeds were …

LOCAL Ventures Receives Development Financing for Apartment Project in Downtown Boise

BOISE, IDAHO — LOCAL Ventures has received joint venture equity and construction financing for the development of LOCAL Boise, a residential property located at 250 E. Myrtle St. in downtown Boise.Appian Capital and Argos Capital Partners provided the equity, while Old National Bank provided the loan for construction financing.Steve Kohn, Chris Moyer, Zachary Kraft and Matt Naumann of Cushman & Wakefield Equity, Debt & Structured Finance represented the borrower.Slated for …

LDK Ventures Enters Idaho Market with Acquisition of Boise Logistics Center

BOISE, IDAHO — California-based LDK Ventures has purchased Boise Logistics Center located at 1001 E. Gowen Road in Boise. Terms of the transaction were not released.The vacant property, which Shopko occupied until 2019, is one of the largest industrial buildings in the Boise metropolitan area and is the only facility to more than 100,000 square feet of available distribution space in the Treasure Valley industrial market, according to LDK.The building features three loading sides, …

Berkadia Acquires LIHTC Advisors, Expands Affordable Housing Presence

BOISE, IDAHO — New York-based Berkadia has acquired LIHTC Advisors, a Boise-based brokerage firm that serves apartment investors with a focus on affordable housing.Jeff Irish and Brandon Grisham, formerly principals of LIHTC Advisors, will lead the new team in Boise. Prior to the merger, Irish and Grisham were involved in the sale of more than $2 billion of affordable housing assets throughout the country. In 2019, Irish and Grisham closed 53 transactions and are expected to exceed that …

Arbor Realty Funds $1.9M Fannie Mae Financing for Arbor Court Apartments in Idaho Falls

IDAHO FALLS, IDAHO — Arbor Realty Trust has provided $1.9 million in financing through the Fannie Mae Small Loan program for Arbor Court Apartments in Idaho Falls.Built in 1953, the two-story, six-unit property features a playground, laundry facility and on-site parking. Geoffrey Platt of Arbor’s New York City office originated the loan for the undisclosed

Granite Awarded $245M Contract to Pour Concrete at Naval Spent Fuel Handling Facility in Idaho

IDAHO FALLS, IDAHO — Granite has been awarded a $245 million subcontract by Fluor Marine Propulsion for the concrete placement construction of the Naval Spent Fuel Handling Facility near Idaho Falls.The work includes providing all labor, equipment and materials in order to backfill the excavation site from all bedrock up to the elevation that will support super-structure foundations. The backfill will include approximately 10 million pounds of rebar and 300,000 cubic yards of concrete …

Berkadia Arranges Sale of Central Pointe Multifamily Property in Boise

BOISE — Berkadia has facilitated the sale of Central Pointe, a garden-style apartment property in Boise. Monarch Investment and Management Group sold the community to an undisclosed entity. The acquisition price was not released.Located at 1334 N. Liberty St., Central Pointe features a mix of one-, two- and three-bedroom floor plans with private balconies or patios. Community amenities include a fitness center, pool, playground, clubhouse, sundeck, laundry facilities, covered parking, an …

Blueprint Arranges Sale of 39-Unit Assisted Living Community in Hayden, Idaho

HAYDEN, IDAHO — Blueprint Healthcare Real Estate Advisors has arranged the sale of Honeysuckle Place, a 39-unit assisted living community in Hayden, approximately 30 miles east of Spokane, Washington.A national owner-operator sold the property to a regional operator looking to expand into Idaho. The price was not disclosed.Originally built in 1996, the community was positioned as a value-add opportunity, though the seller did increase occupancy by 20 percent during the transaction …

ShowBiz Cinemas to Develop Entertainment Center in Idaho Falls, Idaho

IDAHO FALLS, IDAHO — ShowBiz Cinemas plans to develop one of its Bowling, Movies and More! entertainment centers at Jackson Hole Junction in Idaho Falls. This location will be ShowBiz Cinemas’ first complex in Idaho; the company currently operates locations in Texas, Oklahoma and Florida.Slated to open in December, the entertainment center will be located at Sunnyside Road #116 Exit off Interstate 15. Construction is currently underway, with the official groundbreaking ceremony …

Avison Young Arranges $27.7M Construction Loan for Summertown Apartments Near Boise

MERIDIAN, IDAHO — Avison Young has secured a $27.7 million loan to finance the construction of Summertown Apartments in Meridian, a suburb 12 miles west of Boise. The borrower is a joint venture between Phoenix Commercial Construction and 111 Capital.Jay Maddox and Peter Sherman of Avison Young Capital Markets Group arranged the loan, which a Los Angeles-based private lender provided.Located adjacent to the 58-acre Settler’s Park, Summertown will offer 190 units in a mix of …

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