The offering is a natural extension of Thornton Oliver Keller’s commercial real estate platform as auctions provide another avenue for real estate disposition that allow owners to maximize exposure for their property, to know the sale date, and to sell at true market value, Thornton Oliver Keller said in a release.
Josh Paul, marketing director with Thornton Oliver Keller, said in an interview that the value-determination feature is helpful in a market that now sees many factors driving and changing values – rents, tenants’ ability to pay, and owners’ individual financing situations, for example. The auction purchases are in cash.
He said the Thornton Oliver Keller-Downs Auction alliance could be used on all property types.
“We’re extremely pleased to partner with Downs Auction,” Michael Ballantyne, managing partner of Thornton Oliver Keller, said in the release. “They have a great reputation in the community, are locally owned and operated like our firm … it’s just a great match.”
Downs Auction provides auction services for real and personal property. The firm was founded in 1979 by Bill and Vonda Downs and later purchased by Larry and Debi Downs. Their services include auction with reserve, absolute auction and multi-property auctions.
Also in the Boise area, Mark Bottles Commercial Real Estate Services for years has partnered with Corbett Auctions & Appraisals.