Sagard Real Estate (SRE), a U.S.-based real estate investment advisor and subsidiary of Sagard, announced the acquisition of 18463 Blueberry Ln, a 222-unit garden-style multifamily community located in Monroe, Washington, within the greater Seattle metropolitan area.
The investment was completed on behalf of Sagard Real Estate’s recently launched core-plus open-end fund, which focuses on seaport and last-mile industrial properties, workforce rental housing, and other niche property sectors in supply-constrained, high-growth markets across the United States.
Located in Monroe, a rapidly growing suburb in the Seattle metro area, the property benefits from strong demographic trends, relative affordability compared to Seattle’s Eastside submarkets, and access to major employment centers including Everett, Bellevue, Redmond, and downtown Seattle. The area’s population growth and limited new construction pipeline have continued to support strong occupancy fundamentals across the multifamily market.
Constructed in 1991, the property spans approximately 10.4 acres and includes 20 residential buildings totaling 222 units, along with a standalone clubhouse and amenity center. Community amenities include a fitness center, swimming pool, clubhouse, outdoor grilling areas, and landscaped open space. Sagard Real Estate said it plans to renovate a portion of the units that remain in original condition.
The acquisition further expands the fund’s residential portfolio and strengthens Sagard Real Estate’s footprint in the Pacific Northwest, reflecting the firm’s continued focus on high-growth suburban markets in major coastal regions.
Sagard Real Estate manages approximately $6.0 billion in assets under management and provides investment management services across portfolio management, acquisitions, asset management, development, and property management. Founded in 1997, the firm is headquartered in Denver and maintains regional investment offices in New York City, Charlotte, Austin, Los Angeles, and the San Francisco metro area.
KEY QUOTES:
“The Monroe acquisition aligns well with our fund strategy, targeting submarkets supported by strong workforce rental demand and favorable market fundamentals.”
John Maurer, Head of Equity at Sagard Real Estate and Senior Portfolio Manager
“We believe this asset is favorably positioned to benefit from a structural need for a lower cost of housing while drafting off higher rents in the urban corridor.”
Tyler Williams, Co-Portfolio Manager at Sagard Real Estate