C
oeur d'Alene's downtown area has seen significant growth, with the city's population increasing by 23% over the last decade. This surge in population is attributed to Coeur d'Alene's scenic beauty, strong schools, and business-friendly environment. Real estate investment company Fourth Avenue Capital (FAC) has taken advantage of this trend by purchasing Lake Tower, a 10-story building at 100 Coeur d'Alene Ave.
The acquisition marks FAC's entry into the downtown Coeur d'Alene market, where it plans to upgrade the property with modernized interiors and amenities. This move aims to position Lake Tower as the top-tier rental option in the area. With this purchase, FAC now owns 24 multifamily assets across the Inland Northwest, totaling over $350 million.
Lake Tower is a unique asset in downtown Coeur d'Alene, being one of only three apartment projects with 25 units or more and the only high-rise rental building in the area. According to Davis Vaughn, managing partner at FAC, "Lake Tower is a generational opportunity that will be elevated through thoughtful upgrades, delivering a rental experience that meets its iconic location's standards."
