Alturas Restores 110 Main: Allowing for Commercial Use
Written by Travis Barney | April 4, 2017
In October, 2015 Alturas Capital purchased a historic mansion in Boise, ID, and has converted it for new use as a quality office location.
The mansion was built by hotel and mine owner Timothy Regan at the turn of the 20th century. Regan built his wealth in Silver City and Idaho City and was prominent in early Boise business and banking.
Matching his status, the residence features beautiful detailing inside and out, including gold accents, as well as sandstone quarried from nearby Table Rock and is heated by geothermal activity in the Warm Springs area.
Alturas acquired this marquee property through a note purchase and simultaneous deed in lieu of foreclosure.
The former home has undergone an extensive remodel to convert it to office space to better fit with its downtown location. Improvements made include added parking, replacement of the roof, removal of a time-worn garage, spruced up interior with new paint, refinished hardwood floors and more.
Exterior woodworking has been a significant part of this project. A craftsman who learned his trade on the old homes in New England took great care to perform the restoration with meticulous detail.
In modern day Boise, the home sits near the expanding campus of St. Luke’s Health System and major downtown employers and retailers.
With the improvements now complete, the building is ready for a quality tenant to lease the 6,225 square foot property.
“We are pleased to offer this unique space for lease,” Alturas Capital’s Travis Barney said. “The renovations provide a quality working environment in a historic space. The building is truly one of a kind - a uniquely Boise building with historic charm.”
“We were able to purchase this building for less than its appraised cost,” Alturas Capital Managing Partner Blake Hansen said. “With the renovations complete, a new tenant will have a chance to call this property home.”
Alturas Capital Partners is a Boise, Idaho based commercial real estate investment company and manager of the Alturas Real Estate Fund. The company actively invests in office, industrial, retail, and multi-family properties with a focus on the Pacific Northwest and Intermountain West. Alturas owns properties in Idaho, Washington, Colorado, Utah and Arizona. Since 2009, the firm has made investments valued at over $250 million and is actively seeking to acquire additional assets in the Western United States.