Cushman & Wakefield, a leading real estate firm, recently facilitated the sale of Bellefield Manor, a 44-unit apartment complex located in the heart of downtown Bellevue, Washington. The property was purchased by an investor from California for $16.1 million and was represented by Cushman & Wakefield’s team of experts including Dan Chhan, Tim McKay, Sam Wayne and Matt Kemper.
According to McKay, this rare opportunity to acquire Bellefield Manor after more than 50 years on the market presented itself as a highly desirable multifamily asset in downtown Bellevue. With strategic capital improvements planned by the buyer in order to compete with other high-end apartments in the area where demand is currently exceeding supply for top-tier housing options.
The new owner plans to make further upgrades to this already extensively renovated property situated on almost two acres at 1830 108th Ave SE. Its prime location near restaurants and entertainment as well as being close proximity Beelvue Square retail shopping center makes it an attractive investment opportunity.
This recent transaction marks another successful deal advised by CushWake without mentioning any specific regions or brands involved.
