REBusinessOnline

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 …

Acquisitions, Idaho, Industrial, Self-Storage, Western

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 …

Acquisitions, Idaho, Multifamily, Seniors Housing, Western

Opus Group Starts Construction of 285,000 SF Mixed-Use Development in Boise

BOISE — The Opus Group has started construction of a mixed-use project in downtown Boise. River Caddis Development and Standard Capital, a division of Standard Cos., are developing the project. Slated for completion in summer 2021, the eight-story, 285,000-square-foot project will feature 173 apartments in a mix of micro, one- and two-bedroom floor plans, as well as 3,000 square feet of street-level retail space. The second, third and fourth floors will primarily serve as parking with 400 …

Development, Idaho, Mixed-Use, Multifamily, Retail, Western

Amazon to Open First Fulfillment Center in Idaho, Creating More Than 1,000 Full-Time Jobs

NAMPA, IDAHO — Amazon has announced plans to open its first fulfillment center in Idaho, creating more than 1,000 full-time jobs. Located in Nampa, the 650,000-square-foot facility is slated to open in 2020. The fulfillment center is being developed in partnership with Pannotoni Development Co. Inc. Amazon plans to utilize the center to fulfill customer orders such as books, electronics and

Development, Idaho, Industrial, Western

TYG Commercial Real Estate Brokers Sale of 73-Unit Sand Creek Apartments in Idaho

IDAHO FALLS, IDAHO — TYG Commercial Real Estate has negotiated the sale of Sand Creek Apartments, a 73-unit multifamily community located in Idaho Falls. A private investor sold the property to a Utah-based multifamily investor for an undisclosed price. Located at 1250 Ashment Ave., Sand Creek Apartments features 32 one-bedroom units, 17 two-bedroom apartments and 24 three-bedroom units. The property was built in 1978 and renovated in 2004. Richard Bird and Mathew Bird of TYG Commercial …

Acquisitions, Idaho, Multifamily, Western

Marcus & Millichap Brokers Sale of 166-Unit Self-Storage Facility Near Boise

KUNA, IDAHO — Marcus & Millichap’s LeClaire Group has arranged the sale of Kuna Self Storage, a self-storage facility in Kuna, a suburb of Boise. Messmer Properties sold the asset to an undisclosed buyer. The acquisition price was not released. Kuna Self Storage features 166 non-climate-controlled units, 15 rentable outdoor parking spaces, a fully fenced storage area and an on-site manager’s office. Jordan Farrer of Marcus & Millichap’s Salt Lake City office and Adam …

Acquisitions, Idaho, Industrial, Self-Storage, Western

Newmark Realty Capital Arranges $22M in Development Financing for Residential Tower in Northern Idaho

COEUR D’ALENE, IDAHO — San Francisco-based Newmark Realty Capital (NRC) has arranged $22 million in development and construction financing for One Lakeside Center, a 15-story residential tower on the north shore of Lake Coeur d’Alene in Northern Idaho. Demetri Koston of NRC’s Spokane, Wash., office arranged the financing for the undisclosed borrower through a New York-based national bank lender. Situated one block from the water’s edge in Coeur d’Alene, One Lakeside Center …

Development, Idaho, Loans, Multifamily, Western

KeyBank Arranges $27M Financing for Affordable Housing Complex in Idaho

HAILEY, IDAHO — KeyBank Community Development Lending and Investment (CDLI), along with KeyBank Real Estate Capital (KBREC), has secured $27 million to refinance and renovate Balmoral Apartments. The property is located in Hailey, a small city in central Idaho approximately 125 miles east of Boise. The financing included $10.1 million provided by CDLI, as well as $17.3 million from Freddie Mac arranged by KBREC’s commercial mortgage group. Completed in 2002, the property is a 192-unit, …

Development, Idaho, Loans, Multifamily, Western

CareTrust REIT Buys Skilled Nursing Facility in Nampa, Idaho

NAMPA, IDAHO — CareTrust REIT has acquired Cascadia of Nampa, a newly constructed, 99-bed transitional rehabilitation facility in Nampa. The facility was added to CareTrust’s existing master lease with Idaho-based Cascadia Healthcare LLC, bringing the total facility count under the Cascadia master lease to 12 facilities with 1,013 licensed beds. CareTrust participated in the facility’s development, making a preferred equity investment with Cascadia’s development affiliate in 2016 to …

Acquisitions, Idaho, Multifamily, Seniors Housing, Western

Wolff Opens New Revel Seniors Housing Communities in Washington, Idaho

SPOKANE VALLEY, WASH., AND EAGLE, IDAHO — The Wolff Company, an Arizona-based private equity firm and multifamily developer, has completed construction or Revel Spokane in Spokane Valley and Revel Eagle in Eagle. Both communities offer independent living apartments and are part of Wolff’s $300 million to $400 million annual seniors housing development plans. Located alongside the Spokane River, Revel Spokane features 132 units in one- and two-bedroom layouts. The community welcomed …

Development, Idaho, Multifamily, Seniors Housing, Washington, Western
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