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May 7, 2026

Movers and Markets: CBRE lands $54M for downtown Bellevue hotel

By BRIAN MILLER
Real Estate Editor

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Courtyard by Marriott, downtown Bellevue

When the Courtyard by Marriott opened 21 years ago in downtown Bellevue, the location at 11010 N.E. Eighth St. was ... okay, not great, not meh. But with Bellevue Downtown Station now one block south, it just got a whole lot more valuable. Thus a good time to refinance the 243-unit property, which is still owned by original developer Puget Sound Hospitality. CBRE recently announced a $54 million refinancing effort, led by its James Bach, Regina Wang, Nic Alfieri and Nick DaValle. The money came from Morgan Stanley. Wang said in a statement, “The property's occupancy premium over the broader Seattle market, combined with its position adjacent to one of the region's densest tech employment clusters, gave lenders a clear line of sight on demand fundamentals.” The 10-year, fixed-rate note has an interest-only structure.


 
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