Local apartment manager Andrew Propst has purchased the 60-year-old, 32-lane Meridian Lanes bowling alley.
The Quintieri family had owned the bowling alley since it was built in 1958, but Propst heard the family was trying to sell and couldn’t find a buyer. He obtained a loan from Mountain West Bank to finance the purchase for an undisclosed price. The sale closed Oct. 13.
“Getting financing is difficult to do when buying a bowling alley,” said Propst, CEO of HomeRiver Group, a Meridian-based apartment management company with 15,000 units in 15 states. “I had no intention of buying a bowling alley. It just happened.”
Propst plans to update the scoring system in the coming months and make some decorative changes.
“The one thing you don’t want to do is make it the next Big Al’s,” Propst said. “We want to make it the best Meridian Lanes.”
Along with bowling alley entrepreneurship, Propst last year sold his local Park Place Property Management firm, which managed 5,500 local apartment units, to create the national HomeRiver Group that he anticipates expanding to 50,000 units. He reinvested the sale assets back into HomeRiver, he said.