Sagard Real Estate Acquires 222-Unit Multifamily Community in Monroe, Washington

MONROE, Wash. — May 27, 2026 — Sagard Real Estate has acquired a 222-unit garden-style multifamily community in Monroe, Washington, the firm announced, adding to its residential portfolio in the greater Seattle metro area through its recently launched core-plus open-end fund.

The property, located at 18463 Blueberry Ln, sits on approximately 10.4 acres and comprises 20 residential buildings along with a standalone clubhouse and amenity space. Amenities include a fitness center, swimming pool, outdoor grilling areas, and landscaped open space. The community was built in 1991.

Multifamily Real Estate Acquisition Targets Workforce Housing Demand

Sagard Real Estate said the acquisition was made on behalf of its core-plus open-end fund, which targets seaport and last-mile industrial real estate, workforce rental housing, and other niche property sub-sectors in supply-constrained, high-growth markets. Financial terms of the transaction, including the purchase price, cap rate, and loan details, were not disclosed.

"The Monroe acquisition aligns well with our fund strategy, targeting submarkets supported by strong workforce rental demand and favorable market fundamentals," said 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," added Tyler Williams, Co-Portfolio Manager at Sagard Real Estate.

The firm said it plans to upgrade a portion of the units that remain in original condition.

Monroe Submarket: Affordability and Access to Major Employment Hubs

Sagard Real Estate described Monroe as a growing suburb within the Seattle metro that offers relative affordability compared to core Eastside submarkets, while providing residents access to major employment centers including Everett, Bellevue, Redmond, and downtown Seattle. The firm cited strong demographic trends, population growth, and a constrained supply base with limited new construction as factors supporting healthy occupancy levels in the submarket.

Core-Plus Fund Strategy Targets Niche Property Sub-Sectors

The Monroe deal is part of Sagard Real Estate's recently launched core-plus open-end fund, which the firm said focuses on niche sectors including workforce rental housing and seaport and last-mile industrial real estate in supply-constrained, high-growth markets.

The transaction expands Sagard Real Estate's footprint in the Pacific Northwest and adds to the fund's diversified residential portfolio. The firm said the acquisition underscores its conviction in high-growth suburbs of major coastal markets.

About Sagard Real Estate

Sagard Real Estate is a real estate investment advisor and operator headquartered in Denver, with regional investment offices in New York City, Charlotte, Austin, Los Angeles, and the San Francisco metro area. The firm manages approximately $6.0 billion in assets under management and offers commercial real estate investment strategies through separate accounts and commingled funds. Founded in 1997, Sagard Real Estate is a subsidiary of Sagard, a global multi-strategy alternative asset management firm with more than $46 billion under management.

Sources: Sagard Real Estate press release, May 27, 2026