Northmarq’s Phoenix office brokers sale of Southside Townhomes
PHOENIX (Jan. 17, 2024) — Northmarq’s Phoenix Multifamily Investment Sales team of Logan Baca, Trevor Koskovich, Jesse Hudson, and Ryan Boyle has completed the sale of Southside Townhomes, a Class A build-to-rent property. The 188-unit multifamily community was built in 2023 and is located at 1010 Southside Blvd in Nampa, Idaho. Northmarq represented the seller, 1010 Southside, LLC, a Utah limited liability company. The buyer was KMB Acquisitions, LLC, a Colorado limited liability company.
“The buyer strategically took advantage of a forward sale opportunity and entered escrow while the project was still under construction,” said Baca. “Throughout the course of the transaction, the shift in capital markets created challenges, but ultimately, we closed on favorable terms and the seller/developer had a successful exit.”
Southside Townhomes is made up of 216,930 rentable sq. ft. in Nampa, one of Idaho’s expanding commercial centers. Nampa was once a bustling railroad town and is full of historic charm, just 20 miles east of the state capital. The University of Idaho and Boise State University are both within a 30-minute drive of the property. There are three shopping centers within seven minutes of the property along with three parks nearby, including Deer Flat National Wildlife Refuge – just under a 20-minute drive of Southside Townhomes.
The pet friendly property features unique amenities including a dog park, children’s playground and pickleball court. Community amenities include: Laundry facilities, on-site maintenance, 24/7 access and public transportation. Apartment amenities include: High end kitchen appliances, in-unit washer/dryer, private balcony and on-site parking availability.
As recently released in Northmarq’s Single Family Build-to-Rent Report, inflation is beginning to trend lower and the single-family build-to-rent sector is establishing itself as a core component of the residential housing market. Explore our Build-to-Rent page to learn more.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
