Sage Investment Group, a Kirkland-based developer and property investment company, has acquired a vacant motel property in Fife for $4.25 million.
The vacant hotel was purchased in an off-market deal for $4.25M, with plans to convert the underutilized property into essential housing featuring 121 high-quality studio apartments. The revitalized site will deliver thoughtfully designed, attainable housing just a quarter mile from another Sage development, bringing the company’s total footprint in Fife to 297 units.
The 108-room former Rodeway Inn & Suites at 3100 Pacific Highway E. was sold through a foreclosure proceeding. The Sage Investment team plans to include a common community area in the lobby, including a shared kitchen, arcade games, seating area, as well as an outdoor community space.
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