{"id":1004135573,"date":"2016-01-26T05:10:55","date_gmt":"2016-01-26T13:10:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004135573"},"modified":"2021-05-14T20:23:54","modified_gmt":"2021-05-15T04:23:54","slug":"prime-location-marriott-bought-by-carey-watermark-investors-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/prime-location-marriott-bought-by-carey-watermark-investors-2\/","title":{"rendered":"Prime Location Marriott Bought by Carey Watermark Investors 2"},"content":{"rendered":"<p><em>By Bogdan Odagescu, Associate Editor <\/em><\/p>\n<div id=\"attachment_1004135576\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/Seattle-Marriott-Bellevue-Carey-Watermark-Investors-2.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004135576\" data-attachment-id=\"1004135576\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/prime-location-marriott-bought-by-carey-watermark-investors-2\/seattle-marriott-bellevue-carey-watermark-investors-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/Seattle-Marriott-Bellevue-Carey-Watermark-Investors-2-e1453821616157.png\" data-orig-size=\"800,454\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Seattle Marriott Bellevue\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Seattle Marriott Bellevue&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/Seattle-Marriott-Bellevue-Carey-Watermark-Investors-2-e1453821616157.png?w=800\" loading=\"lazy\" class=\"wp-image-1004135576 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/Seattle-Marriott-Bellevue-Carey-Watermark-Investors-2.png\" alt=\"Seattle Marriott Bellevue\" width=\"300\" height=\"170\" \/><\/a><p id=\"caption-attachment-1004135576\" class=\"wp-caption-text\">Seattle Marriott Bellevue<\/p><\/div>\n<p><strong>Bellevue, Wash.<\/strong>\u2014Lodging-oriented real estate investment trust <a href=\"https:\/\/www.careywatermark2.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Carey Watermark Investors 2 Inc<\/a>. (CWI 2) recently announced the acquisition of the <a href=\"https:\/\/www.marriott.com\/hotels\/travel\/seamb-seattle-marriott-bellevue\/\" rel=\"nofollow noopener\" target=\"_blank\">Seattle Marriott Bellevue<\/a> hotel for an undisclosed amount. According to the <a href=\"https:\/\/www.bizjournals.com\/seattle\/blog\/2016\/01\/new-downtown-bellevue-hotel-has-a-new-owner.html\" rel=\"nofollow noopener\" target=\"_blank\">Puget Sound Business Journal<\/a>, CWI 2 acquired the asset from seller WPPI Bellevue MFS Limited Liability Co. The online news outlet reports that the King County Assessor\u2019s Office values the asset at nearly $75 million.<\/p>\n<p>The hotel remains part of the Marriott International family and will continue to be managed by upper-upscale operator <a href=\"https:\/\/www.heihotels.com\/\" rel=\"nofollow noopener\" target=\"_blank\">HEI Hotels &amp; Resorts<\/a>.<\/p>\n<p>In a booming submarket that is home to giants like Expedia or Amazon, Carey Watermark\u2019s latest addition is the only full-service Marriott in Bellevue. The hospitality industry and the high-tech sector go hand-in-hand around the greater Seattle area, as RevPAR figures have been experiencing continuous growth. This is in part due to hotels neighboring the large Class A offices of companies like T-Mobile, Verizon, and Microsoft.<\/p>\n<p>The newly developed hotel opened in July 2015 and has a capacity of 384 guestrooms across 17 stories. Amenities include a fitness center, an indoor pool, a business center, an upscale concierge lounge, the Amuse Restaurant &amp; Bar, free WiFi in public areas, and a total of 21,000 square feet dedicated to events and meetings.<\/p>\n<p>Conveniently situated close to Interstate 405, the Seattle Marriott Bellevue is a short and direct 12-mile ride from the Seattle-Tacoma Airport and a 15-minute ride from Seattle&#8217;s central business district. Nested in the heart of downtown, it boasts short walking distances from the Bellevue City Hall and the Bellevue Square Shopping Center.<\/p>\n<p>&#8220;The opportunity to acquire a recently developed, high-quality urban asset in the Pacific Northwest is a unique opportunity to expand our portfolio into a vibrant growing market&#8230;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,\u201d concludes Michael Medzigian, chief executive officer of CWI 2.<\/p>\n<p><em>Photo courtesy of Carey Watermark Investors 2 Inc.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Carey Watermark Investors 2 recently acquired the 17-story, 384-key Seattle Marriott Bellevue, strategically located near high-tech giants like Amazon and Microsoft.<\/p>\n","protected":false},"author":740,"featured_media":1004135576,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21751,21742,1610,15],"tags":[],"class_list":["post-1004135573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-hotel","category-latest","category-seattle","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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