See the transformation for yourself: before-and-after photos and a video walkthrough of our latest conversion.
Video tour: Westwater VillageOlympia, WA · 200 units · our latest conversion, leasing now[Embed tour video: Vimeo, YouTube unlisted or Wistia]
Before and after
BEFORE
AFTER
Bellevue Ridge
Bellevue, WA · 108 units · former Quality Inn
11% → 95%leased, January to September 2026
2 hoursfrom certificate of occupancy to our first move-in
$1,500studio rent vs. $1,900 for a nearby Class A studio
A dated roadside hotel became studio apartments in one of the Seattle area’s most expensive cities. Residents trade some square footage for a location close to work at a rent hundreds of dollars below new construction.
The Ainsley
Dallas, TX · 137 units · former Homewood Suites
4% → 81%leased, January to September 2026
#1most units leased in the portfolio this year
A former extended-stay hotel in Dallas, and the property that has added the most residents across the portfolio in 2026.
BEFORE
AFTER
Sahara Apartments
Tucson, AZ · 175 units · acquired 2019, sold 2021
$8.5Mpurchase price as a hotel
$2.7Mrenovation, completed in 12 months
$18.9Msale price as apartments
38%annual return
Sage’s first full-cycle exit. Rents rose from $575 to $825 a month and occupancy reached 99.6% before the property sold to an apartment buyer. Past performance is not indicative of future results.
Inside a Sage community
A finished unit kitchenResident loungeFormer hotel space, now a clubroomPinnacle ApartmentsTheodore Apartments, Tacoma, WA
BEFORE
AFTER
BEFORE
AFTER
