Berkadia, a real estate firm, has successfully sold Sylva on Main in Bellevue, Washington. The property is a midrise multifamily building with 74 units.
The transaction was led by Berkadia Seattle’s Managing Directors Ben Johnson and David Sorensen, Senior Managing Director Kenny Dudunakis, Director George Pallis and Associate Director Peter Dudunakis. They represented the seller of the property – Security Properties based in Seattle.
Sylva on Main was purchased by Rise Properties Trust for $30 million at a per-unit price of $405,405. It is located at 10701 Main Street in downtown Bellevue and was built in 2011. The building features two retail suites along with its residential units.
Johnson expressed his gratitude for being able to work with both the seller and buyer during this sale process. He also highlighted the unique qualities of Sylva on Main such as its prime location downtown and distinctive architecture that make it an attractive asset for investors. With companies continuing to expand their presence on the eastside of Washington state, this property is expected to see significant success in the future.
