A group of senior lenders from Morgan Stanley financial services firm consolidated ownership of Bellevue Towers on Thursday.
Morgan Stanley and its co-lenders have increased their financial investment in the downtown luxury condominium development. The consolidation provides financial stability for the property as remaining condominiums are sold, according to a press release.
The new ownership group also announced new list pricing showing an average cumulative discount of about 30 percent from the condominiums’ original list prices. This is a further decrease of 10 percent from the initial pricing drops in July of 2009.
Bellevue Towers includes a 42-story north tower and a 43-story south tower with 539 homes. Property amenities include: concierge services, a 24,000-square-foot urban garden, a screening room, a fitness center, a spa tub, a sun deck, and an outdoor terrace with a fireplace. For more information, call (425) 454-9922 or visit www.bellevuetowers.com.
