Avenue Bellevue Changes Ownership to Silverstein Capital Partners

Avenue Bellevue, a billion-dollar mixed-use development located at 10300 Northeast 8th Street, has officially transferred ownership from Fortress Development to Silverstein Capital Partners. This change is particularly noteworthy as it follows the grand opening of the InterContinental Bellevue at The Avenue, the first InterContinental hotel in the Pacific Northwest and the brand's first domestic launch since 2017. Silverstein Capital Partners, a prominent New York City-based real estate lender, played a crucial role as an early lender for Avenue Bellevue and has now taken full control of the property's management. Despite the ownership change, Andy Lakha, who dedicated nearly a decade to the development of Avenue Bellevue, will continue to serve as an ambassador for the property in his role as executive founder. The InterContinental Bellevue at The Avenue, which opened in July 2024, features 208 opulent rooms with nightly rates ranging from $500 to $7,200. The hotel also boasts extensive event space, including a grand ballroom and a junior ballroom, designed to cater to luxury events. The design of the hotel emphasizes Bellevue’s natural beauty, incorporating organic aesthetics and a neutral color palette. This transition marks a significant milestone in the ongoing evolution of Bellevue's luxury hospitality offerings.