Boise, ID ● 658 Units
Ten Mile Storage
Meridian, ID ● 659 Units
Ten Mile Storage & Cloverdale Storage
Meridian, ID & Boise, ID
These ideally located and improved self storage properties were held by a partnership consisting of two estates held by two separate trust banks and a sole surviving and participating partner. These assets were the subject of the disposition efforts of a trust bank, a self-storage brokerage firm from another region of the U.S., and a local commercial real estate office of a national franchise. In just three business days, CIG Self Storage Advisors generated three highly qualified offers which yielded a purchase price of 27% higher than the highest price delivered from all the previous efforts of the other parties.
CIG was also an integral participant in overcoming several potential obstacles and conditions to the successful completion of this transaction. Working with both the Buyer’s acquisition team and directly with the Selling entity created an efficient working environment. This environment provided the momentum needed to overcome a non-conforming land use matter, the strict time constraints of the acquisition financing, and the challenges resulting from the ongoing and anticipated legal contests from the trust bank controlled estates.