Fourth Avenue Capital, a real estate investment, development, and operating company headquartered in Seattle and Spokane, purchased The Ridge, a multifamily property located in Vancouver, Washington. After closing the off-market transaction, Fourth Avenue Capital now owns 18 assets across its portfolio, including three other properties in the Portland MSA.
Built in 1987, The Ridge consists of 80 apartment units, and the property includes a leasing office, a playground, and a pool. The Ridge features large floorplans averaging 1,030 square feet. The complex is located near the $1.5 billion 32-acre Vancouver waterfront project, which is underway by the Columbia Waterfront LLC; a collaborative partnership led by Gramor Development. This 20-block project already features 1.3 million square feet of office space, 250,000 square feet of retail space, a 7.3-acre park, and the Hotel Indigo.