Avenue Bellevue, a $1 billion mixed-use development situated at 10300 Northeast 8th Street, has undergone a change in ownership.
Fortress Development’s CEO Andy Lakha has transferred ownership of the project to an affiliate of Silverstein Capital Partners. The New York City-based real estate lender and early investor in the development now holds full control over property management.
This transition comes shortly after the successful opening of InterContinental Bellevue at The Avenue. This marked the brand’s first domestic launch since 2017 and also its first hotel in the Pacific Northwest.
The luxurious InterContinental Bellevue is located at 850 Avenue Sq NE and boasts 208 rooms including family suites and a two-bedroom Presidential Suite spanning over 2,000 square feet. Lakha will continue to be involved with the property as an executive founder ambassador.
The news was originally reported by Connect CRE.
