Wig Properties purchases Bellevue Hilton for $87 million

  • Wednesday, December 7, 2016 1:30pm
  • Business

Wig Properties has acquired the 9.55 acre Bellevue Hilton Property at 300 112th Ave Southeast for $87.25 million.

Wig Properties is a Bellevue-based developer, owner and manager of commercial real estate. A family-owned business, based less than five miles from the Hilton site, Wig Properties builds and holds its projects for the long term, continually improving and investing in them over time.

In February 2015, Wig Properties bought the adjacent Red Lion Hotel site. The Red Lion and Hilton properties together comprise approximately 15.5 acres of land along Interstate 405 and are across the street from the future East Main light rail station.

Mon Wig, the founder and chief executive officer of Wig Properties, said the purchase fit his company’s vision.

“Our goal is to develop the Bellevue Hilton and Red Lion properties into a truly special, iconic, and integrated place that the city, local community and our family can be proud of,” he said.

Leshya Wig, partner at Wig Properties, agreed.

“The purchase of Bellevue Hilton aligns well with our long-term mission: to uncover opportunities where we can play a significant, positive role on the surrounding communities for decades to come,” she said.

Wig Properties plans to continue to operate the hotel under the Hilton brand and will use Dow Hotel Company as the hotel manager. Wells Fargo financed the Hilton site; Washington Federal provided the debt financing on the adjacent Red Lion property.

More in Business

Coding Dojo helps high school graduates more than double salaries by learning to code

70 percent of Coding Dojo graduates with degrees experience 58 percent increase in salaries.

New American Funding opens branch in Downtown Bellevue

The national mortgage lender opened the branch after recognizing the tremendous growth in the area.

Bellevue wealth advisor named to Forbes’ best-in-state list

Morgan Stanley announced that Jeff Mash, a managing director, senior portfolio management… Continue reading

Bellevue insurance agency recognized for exceptional volunteerism

A $5,000 donation will go to a nonprofit that funds cancer research.

Bellevue Chamber welcomes new board members

REI, T-Mobile and Overlake Hospital are just a few of the businesses represented.

Public Health shuts down Bellevue’s Lunchbox Laboratory for no hot water

The restaurant is currently rated as “Needs to Improve.”

Millennial entrepreneurs gearing up to launch crowdfunding campaign for Ombraz Sunglasses

For each pair of sunglasses sold, 20 trees will be planted.

Aegis Living opens senior assisted living community celebrating Chinese culture

Newcastle’s Aegis Gardens features cultural center and preschool open to community.

Baron’s Xi’an Kitchen and Bar to celebrate Chinese New Year

Baron’s Xi’an Kitchen and Bar, in the new Lincoln Square South, will… Continue reading

Bellevue jeweler announces top Valentine’s Day trends for 2018

Engagement ring store finds couples prefer to plan Valentine’s Day together.