Garden-style multifamily property in Bellevue, Wash., sells for $279m

RREEF Management has purchased Hyde Square, a 618-unit garden-style multifamily property located in Bellevue, Wash., for $279.1 million.

The seller was an undisclosed entity.

“Hyde Square is a trophy asset built by a best-in-class developer. Its location between the Microsoft campus and the rapidly growing Facebook offices in the Spring District, not to mention its proximity to light rail and the amenities of downtown Bellevue and Redmond, make Hyde Square arguably one of the most attractive properties in the Pacific Northwest,” said David Sorensen, senior director at Berkadia, which brokered the sale. “We have no doubt the new owners will do very well with this investment in the years to come.”

Located at 2030 155th Place NE, Hyde Square features studio, one- and two-bedroom floor plans with quartz countertops, stainless-steel appliances, and in-unit washers and dryers. Built in 2019, community amenities include a fitness and wellness center, a business