Carey Watermark Investors 2 acquired the 384-room Marriott Bellevue in Downtown Bellevue for an unspecified price, its first purchase in this part of the country.
The 17-story hotel, which opened in July, is at 200 110th Ave NE, and will compete directly with the 245-room W Bellevue, which is scheduled to open in 2017 in Lincoln Square. Though the price was not disclosed, the county Assessor's Office values it at about $75M, according to the Puget Sound Business Journal.
Bellevue is a relatively strong hotel market; year-to-date through November, Bellevue hotels' RevPAR growth was 8.1%. [PSBJ]
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