Alturas Sells 1124 Caldwell Boulevard in Nampa, ID
Written by Travis Barney | November 14, 2018
The Alturas Real Estate Fund recently sold 1124 Caldwell Blvd., a 2,600 square foot net leased retail property in Nampa, Idaho. Alturas purchased the property in October 2015 and performed extensive renovations for a new tenant who took occupancy in early 2017. In less than two years, the property was sold for an equity multiple of over 3x.
At the time of acquisition, the property was being underutilized and achieving low rents for the submarket. Alturas invested in the property and attracted a regional restaurant operator to sign a long-term lease. Through these efforts, Alturas realized the full potential of the asset, with a higher lease rate and an attractive tenant.
This project is a great example of the partnership model and the win-win outcomes that Alturas achieves by working with top-tier real estate professionals in local markets. Unlike other real estate investment companies, Alturas welcomes brokers into transactions, and in this case, the broker partners were compensated four different ways in the life cycle of the project:
- By identifying the opportunity, the broker received a commission on the acquisition;
- In procuring a new tenant, the broker received a leasing commission;
- Following stabilization, the property was sold and the broker received a commission on the disposition.
- Perhaps most uniquely, the broker was able to invest in the asset and through his knowledge, relationships and skill participate in the immense value creation that most property owners are unwilling to share.
Real estate professionals choose to work with Alturas for the following reasons:
- Loyalty - we protect commissions
- Performance - Alturas has a proven track record of tackling complex problems
- Tenants Relations - we treat your tenant clients like the highly-valued customers they are
- Responsiveness - we provide prompt feedback
- Collaboration - we value our partner’s input and work as a team to get to the best possible outcomes
- Participation - enjoy the fruits of your labor through residual cash flow and an eventual sale
If you are an investor interested in learning more about the Alturas Real Estate Fund please contact Blake Hansen at email@example.com.
If you are a real estate professional interested in working with the Alturas Real Estate Fund please contact Travis Barney at firstname.lastname@example.org.
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.