Meridian 118, LLC was formed to acquire approximately 118.36 acres in the city of Boise, Idaho and to complete the entitlement process and engineering allowing for the site to be developed and to sell the land in an unimproved state.  It was considered a Value-Add investment with generally moderate risk.

Located in the City of Meridian, a suburb of Boise, the property has ½ mile of frontage, along Interstate 84 and is within 1,200 feet of the Ten Mile Road Interchange which is to be constructed by 2011. The property is located in an area of regional significance. The site is centered between the cities of Nampa and Boise. As these markets converge along the I-84 corridor, the need for regional uses becomes apparent. All utilities are within 660’ of the site.  The investment strategy projected the Investor IRR to exceed 20% per annum.  The purchase price was $12mm and the equity invested was $9.3mm.