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June 6, 2024

Sage invests $100M for hotel conversions

Based in Kirkland, Sage Investment Group recently paid about $13 million for an old motel (pictured) in the Eastgate area of Bellevue. That will be converted to workforce housing, which is Sage's investment model. This week the firm announced that has now deployed over $100 million in such investments. Prior to purchasing the Eastgate Quality Inn, it deployed $23 million in the first quarter, the company said. It now has 25 properties with over 1,800 units in five states. Sage CEO Ryan Sudeck said in a statement, “This accomplishment reiterates our strong belief that affordable and secure housing should be accessible to everyone.” Co-founder Emily Hubbard added, “Through these investments, we can continue our mission of bringing attainable housing to the communities that need it most.”




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