Local Industry Veterans Launch Fourth Avenue Capital as Multifamily Acquisitions and Development Operator in the Pacific Northwest

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Aug 01, 2023, 08:00 ET

SEATTLE, Aug. 1, 2023 /PRNewswire/ -- Fourth Avenue Capital ("FAC"), a middle market real estate investment firm, has announced its official launch. The firm acquires and develops apartment, townhome, and student housing communities in the Pacific Northwest with the primary purpose of creating long-term value.

Fourth Avenues Capital's existing portfolio includes 17 properties, totaling over $225M of assets under management, and a $125M development pipeline. To date, they have acquired over 1,000 units / beds with a presence in Washington, Oregon, and Montana.

The Pacific Northwest has experienced robust economic growth, driven by a flourishing technology sector, a strong job market, and an unparalleled quality of life. Fourth Avenue Capital has been founded by a team of three seasoned industry professionals with an intimate understanding of the region and a proven track record of success.

"We will continue to take advantage of the pricing inefficiencies in the middle market and build a durable portfolio of high-quality real estate," said Davis Vaughn, Managing Partner and Head of Acquisitions for Fourth Avenue Capital. Prior to founding FAC, Davis led the acquisitions team for the largest buyer of institutional multifamily in the Northwest and has acquired over $6B of apartment assets during his career.

Fourth Avenue Capital sets themselves apart through a comprehensive thesis building process on each investment, employing meticulous market analysis, strategic property selection, and proactive asset management. Leveraging extensive industry networks and adopting a data-driven approach, the company identifies properties with significant growth potential and implements value-add strategies to optimize each of their properties to maximize long-term value.

"While our investment process is grounded in fundamental analysis, we have a flexible approach that enables us to be opportunistic in terms of markets, product type and vintage," said Brian Betts, Managing Partner and Head of Capital Markets for Fourth Avenue Capital. Prior to founding FAC, Brian spent over a decade at a hedge fund in New York City investing in the public equity markets.

"While many groups are taking a wait-and-see approach, we are finding unique development opportunities by having a long-term outlook, identifying compelling price dislocations in the current environment, and controlling desirable land sites in high growth markets," said Chris Rossman, Managing Partner and Head of Development for Fourth Avenue Capital. Prior to founding FAC, Chris ran the Pacific Northwest region for a national developer and led the development of over 5,000 units across the region.

In the coming months, 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, its investment opportunities, and to get in touch with the team, please visit www.fourthavecapital.com

Media Contact:
Fourth Avenue Capital
[email protected]
www.fourthavecapital.com

SOURCE Fourth Avenue Capital