Avenue Bellevue Changes Ownership to Silverstein Capital Partners Following Hotel Opening
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Avenue Bellevue, a billion-dollar mixed-use development situated at 10300 Northeast 8th Street, has changed ownership from Fortress Development, led by CEO Andy Lakha, to an affiliate of Silverstein Capital Partners. This ownership transition occurs shortly after the grand opening of the InterContinental Bellevue at The Avenue, marking the first InterContinental hotel in the Pacific Northwest since 2017. Silverstein Capital Partners, a prominent New York City-based real estate lender, had previously been an early lender for the project and will now oversee its management. Despite this shift, Lakha will continue to play a vital role as the executive founder and ambassador of Avenue Bellevue. The newly opened InterContinental hotel boasts 208 luxury rooms with rates ranging from $500 to $7,200 per night, along with 12,000 square feet of event space designed to host various gatherings.
The design of the hotel reflects Bellevue's natural beauty, featuring organic aesthetics and a neutral color palette. This development not only enhances the local skyline but also promises to stimulate economic growth in the area. With this change in ownership, Avenue Bellevue is set to solidify its status as a premier destination for both residents and visitors.