Avenue Bellevue in partnership with Fortress Development has secured financing for its flagship project, the two-tower luxury condo, hotel and retail development currently under construction in downtown Bellevue, Wash. The $700 million transaction with Silverstein Capital Partners (SCP) is the largest construction loan in Bellevue’s history — and one of the largest recorded in the U.S. since the start of the pandemic. SCP is the real estate lending platform for New York–based Silverstein Properties; the deal also marks SCP’s first construction financing loan on the West Coast.
Located on the corner of NE 8th Street and Bellevue Way, Avenue Bellevue will feature more than 300 luxury homes spread across two towers, including 141 “Estate Homes” in the South Tower and 224 “Residences” in the West Tower. The property’s South Tower will also boast the Pacific Northwest’s first-ever luxury InterContinental® Hotel with 208 hotel rooms, event space, restaurants an
