BELLEVUE, WA-Essex Property Trust, the Palo Alto-based apartmentREIT, purchased the Courtyard Off Main Apartments in Bellevue for$30 million. Built and sold by local developer Courtyard Off MainLLC, the community consists of 110 apartment homes with 7,573square feet of commercial space.
Philip Assouad and Giovanni Napoli of GVA Kidder Mathewsbrokered the transaction. Constructed in 1999, Courtyard is locatedin the heart of Bellevue, just blocks from boutiques, fine dining,high end retailers and the CBD.
Residents enjoy 990 square foot units with views of the downtownskyline and Meydenbauer Bay. Although Essex is adding to theiralready considerable Seattle portfolio of 6,500+ units, Courtyardis their first acquisition in downtown Bellevue.
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