BELLEVUE, WASH. — Berkadia has brokered the $279.1 million sale of Hyde Square, a 618-unit multifamily community located between the offices of Microsoft and Facebook in the Seattle suburb of Bellevue.
Kenny Dudunakis, David Sorensen, Ben Johnson and George Pallis of Berkadia’s Seattle office completed the sale on behalf of the buyer, Illinois-based DWS RREEF Management LLC. The Seattle Daily Journal of Commerce reports that Carmel Partners was the seller in the transaction.
Built in 2019, the garden-style property offers a mix of studio, one- and two-bedroom units with quartz countertops, stainless-steel appliances and in-unit washers and dryers. Communal amenities include a fitness and wellness center, business center, outdoor courtyards, barbecue area with fire pits, pet spa, gaming tables and theater room.
Located at 2030 155th Place NE, the community also affords residents convenient access to Bellevue College, the Lake Washington Institute of Technology and dining and shopping options along NE 24th St.
“This was a record-breaking sale as this was the largest single-asset podium building ever sold in Washington state and the largest apartment deal sold in Washington state over the last six months,” says Sorensen of Berkadia. “This was also the largest apartment deal in the Bellevue area to be sold since 2013.”
— Katie Sloan