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Seattle & Northwest  + Seattle  + Hospitality  |  May 23, 2024
Jasmine Kilman
By: Jasmine Kilman

Bellevue Motel Slated for Conversion to Apartments

The Quality Inn Bellevue was purchased by an entity affiliated with Sage Investment Group for $13.1 million, or about $123,584 per room. The seller was Ok S. Ham, a local operator/investor who acquired the motel in 2015 for about $10.6 million.

Built in 1981, The Quality Inn Bellevue is located at 3241 156th Ave. SE, and the hotel consists of 106 rooms in a 28,910-square-foot building. Kirkland-based Sage Investment Group, a real estate investment and development company, focuses on delivering affordable housing by converting hotels into apartment communities nationwide, according to its website.

In April, a Hilton Garden Inn hotel located at 1801 East Valley Road was sold by a Blackstone Real Estate affiliated entity for $17.7 million. The buyer was an entity affiliated with Wilsonville, Oregon-based Virk Hospitality Renton 2 LLC.

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Sage Investment Group

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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