Avenue Bellevue Changes Ownership to Silverstein Capital Partners Following Hotel Opening

Avenue Bellevue, the billion-dollar mixed-use development located at 10300 Northeast 8th Street, has undergone a notable change in ownership. Andy Lakha, CEO of Fortress Development, has transferred ownership of the project to an affiliate of Silverstein Capital Partners, according to a recent press release. This transition follows closely on the heels of the grand opening of the InterContinental Bellevue at The Avenue, which marked the brand’s first domestic launch since 2017 and the first InterContinental hotel in the Pacific Northwest. Silverstein Capital Partners, a New York City-based real estate lender known for providing loans and rescue capital for major properties in North America’s top 20 cities, was an early lender for Avenue Bellevue and has now assumed full control of the property’s management. Despite the change in ownership, Andy Lakha, who has dedicated nearly a decade to developing Avenue Bellevue, will continue to serve as an ambassador for the property in his role as executive founder.

The InterContinental Bellevue at The Avenue, an ultra-luxury hotel, opened in July 2024. It features 208 rooms, with rates ranging from $500 to $7,200 per night. The hotel offers 12,000 square feet of event space, including a grand ballroom of 4,250 square feet and a junior ballroom of 2,400 square feet, distributed across nine rooms. The design of the hotel draws inspiration from Bellevue’s natural beauty, with organic aesthetics and a neutral color palette.