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August 2, 2012

Bellevue Towers

Bellevue Towers received final approval for Fannie Mae financing, providing more options for buyers. The downtown Bellevue project has sold 96 condos for $58.2 million this year, bringing the 539-unit project to 65 percent sold. The project is selling at least 15 condos a month. Construction on the two towers started six years ago. Developer Gerding Edlen transferred the unsold units to the lender, Morgan Stanley Mortgage. Prices were cut by an average of 40 percent.




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