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Seattle & Northwest  + Seattle  + Apartments  |  August 12, 2022
Pulte Homes Acquires BelRed Multifamily Site, Newmark Brokers Deal
Mark Nieto
By: Mark Nieto

Pulte Homes Acquires BelRed Multifamily Site

Newmark has completed the $26 million sale of a 4-acre development site in the heart of the BelRed Corridor in Bellevue, WA. Pulte Homes of Washington, Inc. purchased the property from Umbrella Development, LLC and is planning to develop a multifamily community.

“The Seattle area’s strong population growth and favorable renter demographics provide the ideal conditions for multfamily development. We look forward to seeing the new owner’s development unfold,” said Newmark’s Kevin Shannon who represented the seller in the deal along with the firm’s Ken White and Tim O’Keefe.

Located just a few blocks from the Spring District Master Planned Development, the site offers close proximity to near-future retail and transportation amenities. The site is only minutes from the Bellevue CBD, provides immediate access to Highway 520 and is situated between two future light rail stations.

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Inside The Story

Pulte HomesNewmark's Kevin Shannon

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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  • ◦Sale/Acquisition
  • ◦Development
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