508 West is a 118 unit adaptive reuse redevelopment of the former Qualmed Building, a nine story medical office tower with attached parking located in Spokane’s South Hill medical district near Sacred Heart Medical Center and MultiCare Deaconess Hospital. The asset was acquired in October 2019 through a distressed off market estate sale and closed all cash within 30 days at a compelling basis, including an additional multifamily zoned parcel and a long term ground lease providing parking for 120 vehicles. In partnership with Brumback Construction and Development, the project represents a 35 million transformation of an obsolete medical complex into one of Spokane’s most distinctive residential communities. The tower was rebuilt to residential standards and the parking annex reconstructed into a seven story residential building, creating 118 studio, one bedroom, and two bedroom units with unique layouts and a full Class A amenity package. Recognized for its design and execution, 508 West received Adaptive Reuse Development of the Year in 2023 and operates as a premier urban multifamily asset with strong long term demand.