Boise company adds industrial property to growing portfolio

A sizable property in the middle of Boise was recently purchased, adding to the $630 million in assets managed by the new owners.

Alturas Capital Partners , based in Boise, announced on Oct. 4 that it had purchased the industrial property at 415 N. Maple Grove.

The 45,000-square-foot building sits on 5.5 acres of land along a busy stretch of road surrounded by a mix of other businesses. The current tenant of the property, Enviro-Tech Industries , has a new 10-year, single-tenant, triple-net lease, which Alturas said provided “immediate cash flow and long-term stability to the portfolio.”

Enviro-Tech specializes in precision machining, fabrication and assembly, and it serves the aerospace, automotive, medical and robotics industries among others.

“This deal was brought to us off-market with an urgency to close quickly,” said Joshua Utke, director of Acquisitions at Alturas. “Our team jumped on the opportunity and worked hard to meet the tight timeline. This would not have been possible without Mike Trueba and his team at Heritage Bank who provided competitive financing and were able to close quickly.”

The amount of the purchase was not disclosed.

Alturas, which stated it is actively focused on identifying further opportunities throughout the Western U.S., said the purchase “emphasizes Alturas Capital Partners’ opportunistic approach to acquiring cash-flowing assets in strategic growth markets.”

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