REBusinessOnline

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 …

Geronimo Divests of Two-Property Retail Asset in Idaho for $50.9M

TWIN FALLS, IDAHO — Geronimo has completed the sale of Canyon Park East and Canyon Park West, a two-property retail asset located in Twin Falls. Wood Investments Cos. acquired the asset for $50.9 million.Located at 2068 Bridgeview Blvd. and 1945 Fillmore St., the properties were 100 percent leased at the time of sale. Current tenants include Ross Dress for Less, Ulta Beauty, Bed Bath & Beyond, Petco, Dick’s Sporting Goods, HomeGoods, TJ Maxx, Best Buy, Michaels, Sportsman’s …

Watchman Properties Purchases 555-Unit Self-Storage Facility in Metro Boise

NAMPA, IDAHO — Watchman Properties has acquired The Storage Co., a self-storage asset located in Nampa, approximately 20 miles west of Boise. A local family sold the property for an undisclosed price.Totaling 95,962 square feet, the self-storage facility features 555 rentable spaces, 408 drive-up, enclosed storage units and 147 outdoor parking spaces. The property also includes 4.5 acres of undeveloped land. Originally developed in 1957 for agricultural use, the asset was converted to …

Blueprint Negotiates Sale of 119-Bed Skilled Nursing Facility in Idaho

REXBURG, IDAHO — Blueprint Healthcare Real Estate Advisors has brokered the sale of Rexburg Care Center, a 119-bed skilled nursing facility in Rexburg, approximately 50 miles west of the Wyoming border.A publicly traded REIT and its operating partner sought to reduce their footprint in the state. The Ensign Group acquired the property for an undisclosed price.Rexburg Care Center is a 5-Star CMS rated facility situated adjacent to Brigham Young University-Idaho and less than 1.5 miles …

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