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Sage Investment Group Plans to Convert Studio 6 Hotel in Mountlake Terrace to 120-Unit Residential Property After $12.1MM Purchase - The Registry
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Sage Investment Group Plans to Convert Studio 6 Hotel in Mountlake Terrace to 120-Unit Residential Property After $12.1MM Purchase - The Registry
By The Registry Staff Another hotel property in the Puget Sound region, this one in Mountlake Terrace, has traded hands. Sage Investment Group has purchased the property at 24035 Van Ry Blvd., formerly the Studio 6 Hotel and plans to convert the hotel into 120 studio apartments, according to an announcement from the firm. Industry reports show the sales price was $12.1 million, or approximately $102,000 per room. The seller was an entity affilia…
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