Alturas Real Estate Fund sells retail strip
Written by Travis Barney | August 18, 2018
Boise, ID - August, 2018 - The Alturas Real Estate Fund sold a 21,000 SF retail strip center in Nampa, ID.
The building, part of the Treasure Valley Crossing - located at the busy Karcher Interchange, was purchased by ACP in September of 2016.
Despite being 100% occupied to two tenants, Alturas was able to purchase the property for a discount due to the perceived risk surrounding one of the existing tenants. After completing due diligence, it was determined the risk was overstated.
The disposition of TVC returned nearly three times our initial equity investment in just under 2 years.
Mike Christensen of Colliers International in Boise represented Alturas on the purchase and sale of the asset. Once again demonstrating the broker partner model developed by Alturas.
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.