Seattle DJC com local business news and data - Real Estate - Condo sales continue at Avenue Bellevue
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Silverstein Capital Partners Closes On $700,000,000 Construction Loan For Mixed-use Development In Bellevue
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Silverstein Capital Partners (SCP), Silverstein Properties’ real estate lending platform, closed on a $700 million construction loan on Avenue Bellevue, a 1.1 million-square-foot mixed-use project in Washington State. The deal marks SCP’s first construction financing loan on the West Coast.
Avenue Bellevue combines the first InterContinental Hotels & Resorts in the Pacific Northwest, 365 residential condominiums spanning two towers, and 73,000 square feet of retail and fine dining.
Regarded as one of the premier urban office, retail, and residential markets on the West Coast, Bellevue boasts a highly educated workforce, stunning physical environment with water and mountain views, and diversified employment base. The new development is located near the Bellevue downtown station of the new East Link Extension, the Seattle to Redmond light rail line scheduled to open in 2023.