Blackstone Acquires 40% Stake In Meta Office Towers In Bellevue For $545 Million

The asset involved in this transaction is an office property located at 1615 123rd Avenue Northeast and 1646 123rd Avenue Northeast in Bellevue, WA. The property spans across 36 acres and was sold for a total of $545,000,000. This transaction marks a significant investment in Bellevue’s Spring District, known for its fully leased Meta office towers.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $545,000,000
• Buyer: Blackstone
• Seller: Shorenstein Investment Advisers
• Date of Sale: 06/20/2025
• Market: Bellevue, WA
• Acquisition Details: 40% stake in Blocks 5 and 6, fully leased Meta office towers

Blackstone and Shorenstein Investment Advisers were the key players in this transaction, with Blackstone focusing on high-demand, tech-anchored office assets. This acquisition illustrates Blackstone's strategy amid a resilient market in Bellevue compared to Seattle.