Boise (July, 2018) – Adler Realty Investments, Inc. (Adler) announced the purchase of a lumber mill consisting of five buildings totaling 184,417 square feet on 18 acres of land in Meridian, a fast growing suburb of Boise. The property was acquired in a sale leaseback transaction with Ida Pines, a long-time established lumber operator in the area. The new investment for Adler is one of two properties acquired as part of a 1031 deferred tax exchange.
IdaPines ,who has been modernizing their facility and growing at a swift pace, will utilize some of the sale proceeds to fund their growth including further improvements to their manufacturing capacity. As part of the transaction, IdaPines executed a fifteen-year lease for the entire facility.
“We are pleased with the investment structure we were able to create that will assist IdaPines with their growth while providing our investors with a stable stream of cashflow for many years” said Michael Adler, president of Adler Realty Investments. “Adler continues to look for opportunities where it can implement creative solutions to solve financial and operational issues.”