According to King County records, Hines and a subsidiary of funds that is managed by Oaktree Capital, a leading investment management firm, purchased Main Street Flats. This is the apartment complex at 10505 Main Street in Downtown Bellevue.
The purchase was made for $232.5 million. The luxury apartments feature 425 units, made up of studio to two-bedroom apartments and three-bedroom townhomes. The square footage ranges from 400 to 1,900. Some of the amenities include a 24-hour fitness studio, BBQ area with grills, and on-site bike repair.
The building was developed by Dallas-based real estate firm, Alamo Manhattan in 2015.
Hines announced in 2021 plans for “Main Street Place”, a new mixed-use project in Downtown Bellevue. The 6.75 acre development will consist of about 1.2 million square feet of new high-rise office space, approximately 400 units of low-rise apartments, and approximately 90,000 square feet of retail and amenity spaces. The address for the project is 103 110th Avenue Northeast.