#USA #Coeur d'Alene #Fourth Avenue Capital #Lake Tower

Fourth Avenue Capital Expands Its Portfolio with Lake Tower Acquisition

Seattle, WA – In a significant move within the real estate market, Fourth Avenue Capital (FAC) has successfully acquired Lake Tower, a stunning ten-story apartment building located in the vibrant downtown of Coeur d'Alene, Idaho. This acquisition marks a notable addition to FAC's growing portfolio, which now includes 24 properties, strengthening its presence in the Pacific Northwest.

Lake Tower is unique, offering the largest floorplans in the area, with an impressive average of 1,370 square feet per unit. The property features six luxurious penthouse units that exceed 2,150 square feet, designed for residents who appreciate upscale living. One of the standout attributes of Lake Tower is its thoughtfully designed layout, ensuring that all units have entry doors on the northern side, which provides breathtaking views of the lake from expansive windows in the living and kitchen spaces. Additionally, each unit is equipped with outdoor patios, air conditioning, and convenient in-unit washer/dryers, enhancing the overall living experience.

Situated just a stone's throw from the Coeur d'Alene Resort and the bustling retail corridor of Sherman Avenue, Lake Tower is positioned at the heart of a dynamic downtown area. It sits only two blocks away from the lakefront and one block from the ongoing hotel expansion at the Resort, making it a prime location surrounded by flourishing commercial and recreational activities. Given the exceptionally high land values in this sought-after area, recent developments have predominantly focused on upscale condominiums and hospitality projects. Lake Tower stands out as one of only three large-scale multi-family projects in the downtown area, also being the sole rental high-rise in the locale.

The acquisition comes at a time when Coeur d'Alene is witnessing rapid growth, with its population increasing by 23% over the last decade—over three times the national average. This remarkable growth is driven by the area’s stunning natural beauty, strong educational institutions, and favorable business environment, making it an attractive destination for new residents. To capitalize on this growth, FAC has plans for targeted capital improvements at Lake Tower, which will modernize the interiors and elevate the resident experience. The renovation will align with the high standards expected of such a prestigious location, further solidifying its status as the premier rental option in the market.

Davis Vaughn, Managing Partner at Fourth Avenue Capital, emphasized the significance of this acquisition by stating, “Lake Tower is a generational opportunity—an irreplaceable asset in the heart of one of the most desirable small cities in the country. With thoughtful upgrades, we will deliver a rental experience that meets the standard set by its iconic location.”

About Fourth Avenue Capital

Fourth Avenue Capital is a leading real estate investment, development, and operating firm based in Seattle and Spokane, Washington. The company focuses on middle-market multifamily assets in the Pacific Northwest, having acquired over 1,250 residential units and beds to date, with an expansive development pipeline exceeding 500 units valued at over $150 million. With existing assets totaling more than $350 million, FAC is dedicated to strategic acquisitions and partnerships that will facilitate growth while positively impacting the communities it serves.

To learn more about Fourth Avenue Capital and their upcoming projects, visit www.fourthavecapital.com.