The newly built Seattle Marriott Bellevue changed hands last month and now is owned by Carey Watermark Investors 2 Inc., a non-traded investment trust firm. Hotel brokerage firm Hodges Ward Elliott, which represented the Marriott’s previous owner, announced the sale on Monday.
“The hotel’s location, cutting edge design and strong brand affiliation made this an attractive investment and we were able to fully realize the value of this asset for the seller,” Mark Elliott, president of Hodges Ward Elliott, said in a statement.
The four-star hotel, located at 200 110th Ave. NE, opened July 2015. The 17-story hotel features 384 guestrooms and 21,000 square feet of high-tech event space.
“We believe the hotel’s downtown Bellevue location will position the property to benefit from the strong, technology driven growth fundamentals in the greater Seattle lodging market,” Michael Medzigian, CEO of CWI 2, said in a statement. “The acquisition allows us to invest in an attractive location in one of the fastest growing regions of the country, while providing CWI 2 the opportunity to geographically diversify its portfolio with an acquisition in the Pacific Northwest.”