National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Adler Acquires 80-Asset Boise Industrial Portfolio
Woodland Hills, CA-based Adler Realty Investments acquired one of the largest industrial portfolios in Idaho from the Van Auker Companies. The 80-property portfolio totals more than two million square feet, and includes roughly 400 acres of land for future development across Boise’s Treasure Valley.
Adler Industrial, LLC teamed with an undisclosed institutional equity partner on the purchase, while Invesco Real Estate provided financing. JLL’s Mark Detmer, Bo Mills, Brian Halpern, Ryan Sitov and Jason Rosin arranged the acquisition funding.
“This was a very complex transaction, but it underscores the continued desirability of the industrial sector,” said Detmer.
Pacific Commercial Realty Advisors/Cushman & Wakefield’s Peter O’Brien assisted the buyer in the transaction, while Capacity Commercial Group’s Dave Ellis assisted the seller.
The new owner will execute a value-add management plan for the 95%-leased portfolio, including selling select buildings, developing new product and selling the non-industrial land portions.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Sale/Acquisition
