Market notes.
Long view.
Quarterly market reports, storage commentary, and operating philosophy from owner-operators in the Mountain West.
The archive.
What 1,000 New Homes in North Meridian Signal
A single project would add ~1,200 homes to North Meridian. Read the composition, not the count — most of it never competes with institutional apartments.
Insurance Is Rewriting Multifamily Math — and Idaho Is on the Right Side
Property insurance went from 1.95% of revenue to 4.78% in two decades. The pain is regional — and the inland Mountain West is on the right side of it.
The Reno Playbook: A Preview of Where Boise Is Headed
Reno hit the supply wall first. Deliveries collapsed, demand kept coming, vacancy fell to 3% and rents jumped ~12%. It's a live preview of Boise's next chapter.
Boise Multifamily Is Outrunning Denver
Two metros, one region, opposite trajectories. Boise prints top-five rent growth while Denver sits near the bottom — and supply discipline is why.
The Multifamily Maturity Wall Is a Buying List
The 2026 maturity wall gets written up as a crisis. For a buyer with capital and patience, the same loans coming due read as a sourcing list.
The Storage REITs Are Buying the Mountain West
Public Storage's $10.5B merger and Extra Space's push into Utah, Arizona, and Nevada point at the exact geography we're watching. What the smart money's move signals.
Idaho vs. Utah: Two Mountain West Adjacencies Worth Knowing
Boise and Salt Lake share a region but not a market. A side-by-side on the metrics that actually matter to long-hold capital.
Q3 2026 Mountain West Market Scan
Our quarterly read across Idaho, Utah, Colorado, Montana, Nevada, and Arizona.
Why the Next Twelve Months Favor Patient Buyers
Rents are soft, concessions are wide, and the delivery pipeline is collapsing. That combination is the setup long-hold capital is built to buy into.
What We Underwrite in Self-Storage That We Don't in Apartments
Storage is on our expansion list, and almost none of the multifamily playbook transfers. The metrics we underwrite first — and why the Mountain West setup fits.
Why We Underwrite to a Ten-Year Hold
Most of the multifamily world underwrites to a five-year hold and a sale. We don't — and that single choice changes every input in the model.
Meridian Is Half of Treasure Valley Apartment Demand
One suburb absorbs almost half the Boise region's apartment demand. What that concentration means for where you actually put multifamily capital.
The Five Things We Always Underwrite First
Before we touch a pro forma, we look at five line items that decide whether a deal is even worth modeling. None of them are rent comps.
Self-Storage: What We're Watching in the Mountain West
Supply pipeline is collapsing, rents are bottoming, cap rates haven't moved. The Mountain West self-storage setup window — and how we're tracking it.
Why We Manage for Retention, Not Turnover
The default multifamily playbook optimizes for trade-out spread. We don't. A look at how retention math actually compounds over a ten-year hold.
Subscribe.
New market reports and operating notes — straight to your inbox. No noise.
No spam. Unsubscribe anytime.