Monarch Investment Sells 200-Unit Community in Idaho
- Apr 13, 2020
Monarch Investment and Management Group has sold Central Pointe, a 200-unit garden-style community in Boise, Idaho. Berkadia assisted both the seller and the buyer, a private investor. According to Yardi Matrix, Monarch acquired the property in 2015 from Resource Real Estate.
Built in 1971, the property comprises one-, two- and three-bedroom units with private balconies and patios. Common area amenities include a fitness center, swimming pool, playground, clubhouse and laundry facilities.
Located at 1334 N. Liberty St., on 10 acres, the 20-building asset is just off Interstate 184. The surrounding area has several dining and retail options, including Boise Towne Square shopping center, which is 2 miles from Central Pointe. The community is 5 miles from Boise Airport.
Berkadia’s team included Senior Managing Director Kenny Dudunakis, Senior Directors David Sorensen and Ben Johnson, as well as Senior Managing Director Alex Blagojevich and Senior Director Michael Sullivan. In November, the first three represented New Standard Equities in the $59.5 million transaction of a 284-unit, Renton, Wash., community. Abacus Capital Group acquired the property.