#United States #Salem Oregon #Fourth Avenue Capital #Kalispell Montana #Salem, Oregon; Kalispell, Montana

Fourth Avenue Capital Expands Its Portfolio with Two New Acquisitions

Fourth Avenue Capital (FAC), based in Seattle, has made significant strides in expanding its real estate portfolio by acquiring two newly constructed apartment communities, totaling 246 units. The recent transactions include the purchase of Spring Woods, a Class A apartment complex consisting of 174 units in Salem, Oregon, and Silver Star, a 72-unit community located in Kalispell, Montana. These acquisitions mark a notable step in FAC's strategy to capitalize on high-growth markets with properties that offer modern living standards.

Spring Woods - A Modern Community in Salem, Oregon

Spring Woods Apartments, officially completed in May 2025, spans 6.98 acres and consists of 10 residential buildings. Designed to cater to various lifestyles, the complex features a mix of one, two, and three-bedroom units, with sizes ranging from 640 to 1,215 square feet—the average being 1,001 square feet. Each apartment boasts essential amenities including in-unit washers and dryers, air conditioning, and high-end finishes such as quartz countertops, stainless steel appliances, and vinyl plank flooring.

The community also prides itself on its well-rounded amenities designed for residents. These include a dedicated leasing office, a dog run, and a children's playground, fostering a vibrant living environment. Salem, known as Oregon's capital, has seen significant economic growth recently and was ranked as the second-fastest-growing metro area in the state for job growth between 2023 and 2024. The city's stable government employment base, coupled with leading private-sector employers in healthcare and education, bolsters its attractiveness to residents and investors alike.

Silver Star - Spacious Living in Kalispell, Montana

Similarly, Silver Star, completed in 2024, is situated on 5.72 acres and features 18 residential buildings. This community caters to larger families and individuals needing more space, with all units comprising three bedrooms and two bathrooms, averaging 1,205 square feet. Unique to the Kalispell market, these layouts stand out for their oversized dimensions and high-end finishes that surpass local standards. Each unit includes an in-unit washer and dryer, air conditioning, and impressive nine-foot ceilings, with vaulted ceilings in the second-floor homes.

The interior design aligns with modern aesthetics, showcasing quartz countertops, stainless steel appliances, and gas ranges, not to mention highly sought-after features like large kitchen islands and gas fireplaces. Kalispell has experienced rapid population growth, averaging 3.2% annually from 2020 to 2023, a trend that is expected to continue, making this acquisition timely and strategically sound.

Strategic Vision for Growth

Davis Vaughn, Managing Partner at Fourth Avenue Capital, expressed confidence in these acquisitions as they align with the firm's core investment strategy: acquiring newly constructed assets below replacement cost in high-growth markets. He believes that with limited future supply and larger-than-average floor plans, both Spring Woods and Silver Star are positioned to achieve substantial rent growth in the long term. Looking ahead, FAC is determined to continue enhancing its portfolio through strategic acquisitions, aiming to leverage its strong industry connections and keen eye for promising investment opportunities.

About Fourth Avenue Capital

Established in Seattle and Spokane, Fourth Avenue Capital specializes in real estate investment, development, and management, with a focus on middle-market multifamily assets throughout the Pacific Northwest. The firm has successfully acquired nearly 2,000 units to date and maintains a robust development pipeline exceeding 500 units, with a projected cost exceeding $150 million. With a focus on aligning investor interests and sustainable operations, FAC aims to create lasting value while positively impacting the communities it serves. For more details, visit Fourth Avenue Capital's website.