Idaho Center Storage

Nampa, ID 610 Units

Case Study

Idaho Center Storage

Nampa, ID

CIG Self Storage Advisors was tasked with achieving the Seller’s targets needed to justify the disposition of a two-phase project prior to the stabilization of even the first phase. To do so required achieving a Buyer’s requirement for an above market stabilized rate of return to compensate for the costs of construction of the second phase and stabilization of the project at market occupancy and rental rates. This is exactly what CIG Self Storage Advisors delivered.

Phase I was just completed and already at 11% occupancy when the offering was taken to market by CIG Self Storage Advisors. In just a matter of weeks, several highly qualified prospective buyers had been located. An industry leading presentation of market comparables and otherwise unavailable operating data was underwritten and packaged by CIG Self Storage Advisors. This not only permitted national buyers who were not familiar with the market region to immediately proceed with absolute confidence, but also gave a local lender the confidence to commit a new creative lending program to our offering.

This new creative lending program considerably lowered the potential risks, capital requirements and cost of debt. These new debt parameters combined with the resources of the successful Buyer’s self-storage operating, investment and development company lead to a successful transaction for both parties.