'); } -->
A Meridian company that offers private investment opportunities in real estate across the country says it is suspending sales and reducing its sales force in response to the slowing economy.
In a brief, undated statement titled "Announcement" and obtained by the Idaho Statesman, DBSI President Doug Swenson said the cuts come "in response to the current financial and real estate market conditions and the impact to our business recently."
It was not immediately known whether the cuts affect Kastera Homes, DBSI's highest-profile affiliate in the Treasure Valley, or Western Electronics, a Meridian contract manufacturer and a DBSI subsidiary. Messages left at various DBSI offices Thursday afternoon were not immediately returned.
DBSI in June laid off an undisclosed number of workers at Kastera and other parts of the company.
"We are currently suspending all sales of our current offerings," Swenson wrote. The sales-force cut will be "significant," and support staffers also will be cut, he said. He promised details soon.
DBSI's group of companies own, manage, invest in, and develop real estate. Its subsidiaries manage more than 200 properties, including retail, office, industrial and multifamily housing.
Kastera is building homes in Meridian (Burney Glen, Caymus Cove and Messina Meadows subdivisions), Star (Streamview and Pavillion), Eagle (Two Rivers and The Shores), and Boise (Kylee Cove and South Hill).
Story Comments
We welcome comments but ask that you remain on topic. Some comments may be reprinted elsewhere in the site or in the newspaper. Comments that are profane, personal attacks or otherwise inappropriate or are off topic are subject to removal. Repeat offenders will be blocked. Do not flag comments merely because you disagree with the comment.