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Distinction of Largest Multifamily Deal Since 2013 Goes to Hyde Square

Representing the largest apartment deal in the Bellevue area since 2013, Hyde Square, a 618-unit garden-style multifamily property, recently sold to Illinois-based DWS, RREEF Management LLC for $279.1 million. And, this was the largest single-asset podium building ever sold in Washington State.

Kenny Dudunakis, David Sorensen, Ben Johnson and George Pallis of Berkadia’s Seattle office completed the sale on behalf of the buyer. The seller was an undisclosed entity.

“Hyde Square is a trophy asset built by a best-in-class developer. Its location between the Microsoft campus and the rapidly growing Facebook offices in the Spring District, not to mention its proximity to light rail and the amenities of downtown Bellevue and Redmond, make Hyde Square arguably one of the most attractive properties in the Pacific Northwest,” said Sorensen.

Built in 2019 at 2030 155th Place NE, the property has access to Bellevue College, Lake Washington Institute of Technology, and the dining and shopping available along NE 24th Street.

For comments, questions or concerns, please contact Lisa Brown

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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