Avenue Bellevue Changes Ownership to Silverstein Capital Partners Following Hotel Opening
Get personalized newsletters for any city in the world with Headline, sign up here.
Avenue Bellevue, a billion-dollar mixed-use development in Bellevue, has officially changed ownership from CEO Andy Lakha to Silverstein Capital Partners, a New York City-based real estate lender. This transition follows closely on the heels of the grand opening of the ultra-luxury InterContinental Bellevue, which is the first of its kind in the Pacific Northwest since 2017. Silverstein Capital Partners, known for providing loans and rescue capital for major properties, was an early supporter of the Avenue Bellevue project and has now assumed complete management control. Despite the ownership change, Andy Lakha will continue to play an important role as the executive founder and ambassador for the property. The InterContinental Bellevue, which opened in July 2024, boasts 208 luxurious rooms with nightly rates ranging from $500 to $7,200.
This hotel offers a grand ballroom and multiple event spaces totaling 12,000 square feet, making it a prime location for events. The design of the hotel draws inspiration from the natural beauty of Bellevue, featuring organic aesthetics and a neutral color palette. This ownership change and the opening of the hotel signify a new chapter for the Avenue Bellevue project and the economic landscape of the region.