The Laramar Group has recently purchased a medical office portfolio in Boise, Idaho. This acquisition marks the second addition to their Laramar Medical Properties Fund II and their tenth overall purchase of a medical office property. The portfolio consists of three buildings totaling 83,078 square feet and is currently 95% occupied. Two of the properties are located at 3080 and 3090 Gentry Way in Meridian, ID with a combined space of 57,043 square feet while the third building is situated at 1070 N. Curtis Rd in Boise with an area of26,035 square feet.
These properties are strategically located near hospital campuses that are home to major healthcare providers which makes them highly desirable for potential tenants. According to Ben Slad, Senior Vice President of Investments for Laramar,”This three-building portfolio offers great potential for long-term growth due to its strong tenant base and prime location within an expanding healthcare market.” He also added that these assets have below-market rents which presents an opportunity for increased rental income over time resulting in higher value upon sale.
With significant population growth observed in recent years within the Boise market,the acquisitionof thisportfoliois expectedto bea lucrative investmentfortheLamarGroupas they anticipate steady rent appreciation throughout their ownership period.
