Atlas Expands into Boise, Idaho
Atlas Real Estate, a full-service Denver-based real estate company specializing in investment brokerage, property management and institutional acquisition, has acquired Advanced Asset Management, a property management company based in Boise, Idaho. The acquisition provides residents, homebuyers and real estate investors in the Boise metro area with a full suite of investment-focused real estate services including brokerage and property management.
“Over the past decade it has been the Atlas mission to Uplift Humanity Through Real Estate, that means helping first-time home buyers, as well as educating homeowners on their ability to save for retirement and build generational wealth,” explains Vincent Deorio, Vice President, Corporate Development for Atlas Real Estate. “This acquisition is the first step in bringing that
mission to the Boise metro area, one of the strongest real estate markets in the country.”
“Atlas will continue to provide the same exceptional level of service to residents and investors in the Treasure Valley,” says Andy Gearhart, owner of Advanced Asset Management. “Our goal for Advanced Asset Management was always to provide high-touch service, so when we connected with Atlas and saw the same service model, we knew we found a winner.”
Boise’s pro-business economy and booming real estate market attracted Atlas to Idaho’s state capital. There are no rent taxes in Boise, property taxes remain relatively low, and the job growth rate stands at 3.6%. According to Zillow, home-price appreciation recently entered the double digits in the metro, with prices growing 10.5% over the past 10 years. Currently, the
median home price in Boise is $419,000. Cap rates for the top 10% of real estate investment sales in the region averaged approximately 3.6%, while rents soared 13.5% year-over-year.
Atlas has a presence in five states and eight metros nationwide, bringing the total number of residential units under management to more than 4,200. Since its inception in 2013, Atlas has been recognized as a leader in the real estate industry. The Denver Business Journal named Atlas as a Fast 50 Honoree, Bank of America selected Atlas as one of its Colorado Companies to Watch, and ColoradoBiz Magazine honored the firm with a Best of Colorado: Property Management and Best Residential Real Estate Agency award in 2020.