Sagard Real Estate, a U.S.-based real estate investment advisor and subsidiary of Sagard, a global multi-strategy alternative asset management firm, announced the acquisition of 18463 Blueberry Lane, a 222-unit garden-style multifamily community in Monroe, Wash., within the Seattle metro area. The investment was made on behalf of Sagard Real Estate’s recently launched core-plus open-end fund, which targets seaport/last-mile industrial, workforce rental housing and other niche property subsectors in supply-constrained, high-growth markets.
Located in Monroe, the area benefits from strong demographic trends, relative affordability compared to core Eastside submarkets and access to major employment hubs, including Everett, Bellevue, Redmond and downtown Seattle. The submarket’s population growth, coupled with a constrained supply base with limited new construction, continues to support healthy occupancy levels.
Built in 1991, the property spans approximately 10.4 acre
