Fourth Avenue Capital Acquires High Rise in Downtown Coeur d'Alene, ID

SEATTLE, May 30, 2025 /PRNewswire/ -- Fourth Avenue Capital (FAC) purchased Lake Tower, a 10-story trophy apartment tower in Coeur d'Alene, ID. Fourth Avenue Capital now owns 24 assets across its portfolio, including two other properties in the Spokane/ Coeur d'Alene MSA.

The property offers the largest floorplans in the area, averaging 1,370 square feet, and includes six penthouse units on the top two floors that are over 2,150 SF. The building is designed so that 100% of the units have entry doors on the north resulting in sweeping views of the lake to the south through huge window lines in the living and kitchen areas. All units have outdoor patios, air conditioning and in-unit washer/ dryers. Additionally, there is a covered parking garage.

Located just steps from the Coeur d'Alene Resort and Sherman Avenue's retail corridor, Lake Tower sits at the center of the city's vibrant downtown. It is two blocks from the lakefront, one block from the Resort's ongoing hotel expansion, and surrounded by a thriving commercial and recreational scene. Due to extremely high land values in this premier location, development has focused on for-sale condominiums and hospitality. Consequently, Lake Tower is one of only three apartment projects of scale (25+ units) ever built downtown and is the only rental high rise.

This acquisition comes as Coeur d'Alene continues to experience accelerated population and economic growth. The city's population has surged 23% over the last decade—more than three times the national average—driven by scenic beauty, strong schools, and a pro-business environment.

FAC plans to elevate Lake Tower through targeted capital improvements that will modernize interiors and enhance the resident experience. Renovations will reflect the high standards of its premier location and further position the property as the top-tier rental option in the market.

"Lake Tower is a generational opportunity—an irreplaceable asset in the heart of one of the most desirable small cities in the country," said Davis Vaughn, Managing Partner at Fourth Avenue Capital. "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 real estate investment, development, and operating company headquartered in Seattle and Spokane, Washington focused on middle market multifamily assets in the Pacific Northwest. FAC has acquired over 1,250 units/ beds to date and has a development pipeline exceeding 500 units and $150M cost. FAC's existing assets under management total more than $350M.

Fourth Avenue Capital plans to expand its portfolio through strategic acquisitions, leveraging strong relationships with industry partners and its ability to identify attractive investment opportunities. By aligning investor interests and implementing sustainable practices, the company aims to create lasting value while making a positive impact on the communities it serves.

For more information about Fourth Avenue Capital, please visit www.fourthavecapital.com

Media Contact:

Fourth Avenue Capital
investors@fourthavecapital.com
www.fourthavecapital.com

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SOURCE Fourth Avenue Capital