Invest in hotel-to-apartment conversions
Hotels are cheap. Housing is scarce. Sage Investment Group buys tired hotels and turns them into apartments working people can afford, across 32 properties and 2,999 homes in 6 states.
Just exploring? Join a live Boca Raton webinar →
Accredited investors only; verification required. Targets are not guaranteed. Offerings are made only through their offering documents. See disclosures below.
No. 1,902, second year in a row
Redevelopment of the Year · Bellevue Ridge
Multifamily Development of the Year · Springwood Place
Hotels are cheap.
Housing is scarce.
We capture the gap.
Older hotels can't keep up with new competition and brand renovation bills, and their owners want out. In the same towns, working people can't find a home they can afford. We change what the building is for.
Working people can't find homes they can afford
Teachers, nurses and service workers earn too much for subsidized housing and too little for new luxury builds. The market isn't building for them.
Many hotels in distress
Brand renovation bills, newer hotels down the street and debt resets push owners of older hotels toward the exit.
That mismatch is the opportunity
Same building, different use, different value. That gap is where the return comes from.
Acquire
In-house acquisitions team sources hotels in markets where building is hard.
Entitle & design
Rezoning, permits and construction pricing are lined up before we close.
Convert in 6–12 months
Guest rooms become apartments with full kitchens.
Lease & stabilize
Pre-leasing starts before the city signs off.
Investor relations
Onboarding, reporting and K-1s from our in-house team.
Construction time is the conversion itself, not the full hold period. Every project differs.
Same building. New purpose.
Before · Quality InnAfter · Bellevue Ridge
Bellevue Ridge
A DoubleTree opened across the street and this hotel couldn't compete. Today it's 108 apartments in one of the country's most expensive markets.
★ 2026 CoStar Impact Award · Redevelopment of the Year
Before · Homewood SuitesAfter · The Ainsley
The Ainsley
Extended-stay suites already had kitchens. Conference rooms became resident lounges and a game room.
Choose how you partner with Sage
Own the whole platform or pick a single building. Which fits depends on your goals, so start with a 20-minute call.
Sage Evergreen Fund
One investment across the whole portfolio: equity upside, target distributions and potential depreciation benefits.
- Target 18–25% IRR, including 4–8% annual cash flow. Targets are not guaranteed.
- Annual K-1 tax reporting
- Minimums and terms: book a call to discuss
- Accredited investors only; verification required
Boca Raton 125
Invest in a single property: a former Holiday Inn & Suites in Boca Raton, FL, becoming 125 apartments.
- City approval May 2026
- Conversion work typically takes 6–12 months
- Live webinar walk-through with our CIO and Head of Acquisitions
- Accredited investors only; verification required
Featured direct dealThe property today
Design renderingBoca Raton 125: a Holiday Inn becomes 125 homes
Pick the building. A former 183-room Holiday Inn & Suites, planned to become 125 apartments, near I-95 and the Tri-Rail station. The city approved the conversion in May 2026.
Hear it directly from the people closest to the deal
Join a live walkthrough of The Palms (Boca Raton 125) in Boca Raton, Florida, hosted by Ross Hubbard (Chief Investment Officer) and Phil Cohen (Head of Acquisitions). It is a rare chance to hear directly from the people closest to the deal and ask your questions.
- Thu, Nov 123:00 PM PT / 6:00 PM ETRegister ↗
- Thu, Nov 193:00 PM PT / 6:00 PM ETRegister ↗
New dates coming soon. Book a call with our team
Accredited investors only; verification required. Offered only through its offering documents. Timing is planned and may change. Subject to availability.
Built for growth and cash flow
Cash flow from stabilized buildings, plus growth in what the portfolio is worth.
Targets are projections based on current assumptions, are not guaranteed, and may not be achieved. Distributions are not guaranteed and may be reduced or suspended. Investments are illiquid and involve risk, including loss of principal. Past performance is not indicative of future results.
2,999 homes across 6 states
Developers, not just fund managers
Almost everything at Sage Investment Group happens in-house, from finding the hotel to reporting to you. Your intro call is with someone on our investor relations team.
How investor onboarding works
Your intro call is with someone on our investor relations team. We verify accredited status before any investment is accepted.
Intro call
20 minutes with Grant, Nick or Matt. Ask anything: how conversions work, which option fits your goals, or whether Sage is right for you.
Verify & review
Confirm accredited status, then review the offering documents with your advisor. Our offerings are made under Rule 506(c). Full terms are in each offering's documents.
Invest
Directly, through a trust, or from a self-directed IRA. After you invest, onboarding, reporting and K-1s come from our in-house team.
Accredited investors only; verification required. Book a call to discuss.
Book 20 minutes with our team
Ask anything: how conversions work, which option fits your goals, or whether Sage is right for you. Prefer we reach out? Request materials instead.
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Request investor materials
Tell us a little about you. A member of our team will reach out within 24 hours.
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When you submit, this box shows a confirmation with a link to pick a call time (it opens in a new tab), and we email you our investor presentation. We'll never share your info. Privacy Policy
Questions investors ask us
Don't see yours? Book 20 minutes or email investorrelations@sageinvestment.group.
Why invest with Sage Investment Group?
Sage converts underperforming hotels into apartment communities. The portfolio includes 32 properties and 2,999 units across 6 states, including about 30 hotel conversions. The Sage Evergreen Fund targets an 18–25% IRR, including 4–8% annual cash flow. Targets are not guaranteed.
What is a hotel-to-apartment conversion?
We buy an underperforming hotel and convert its rooms into studio, one- and two-bedroom apartments with full kitchens, creating naturally affordable housing for working people. Sage has taken on about 30 hotel conversions, and its portfolio includes 32 properties and 2,999 homes in 6 states.
What is the minimum investment and who can invest?
Accredited investors only; verification required. Our offerings are made under Rule 506(c), so we verify accredited status before any investment is accepted. Minimums and terms depend on the offering. Book a call to discuss, and full terms are in each offering's documents.
How large is Sage's hotel-to-apartment conversion portfolio?
Sage's portfolio includes 32 properties and 2,999 units across 6 states, including about 30 hotel-to-apartment conversions, completed or underway.
What returns does Sage target?
The Sage Evergreen Fund targets an 18–25% IRR, including 4–8% annual cash flow. Targets are not guaranteed.
What are the ways to invest?
Two ways today: the Sage Evergreen Fund, which spans the whole portfolio, and Boca Raton 125, a single-building deal.
How long does a conversion take?
Construction typically takes 6–12 months. Every project differs.
Can I invest from an IRA?
Yes, many investors use a self-directed IRA.
What is Boca Raton 125, and how do the webinars work?
A former 183-room Holiday Inn & Suites in Boca Raton, FL, planned to become 125 apartments. The city approved the conversion in May 2026. We walk through it live on Zoom with Ross Hubbard, our Chief Investment Officer, and Phil Cohen, our Head of Acquisitions. Pick a date in the Boca Raton 125 section and register. If you can't make it live, use the on-demand section to request the latest recording once that form is connected; until then, register for a live date and we'll send you the recording.
Let's build something real together.
20 minutes, no pressure. Or start with a live webinar.
Important information. This website is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security, including interests in the Sage Evergreen Fund or Boca Raton 125. Any offer will be made only to accredited investors and only through the applicable private placement memorandum or other offering documents, which describe the terms, fees, conflicts and risks. Accredited status is verified before any investment is accepted. The Sage Evergreen Fund and Boca Raton 125 are offered under Rule 506(c) of Regulation D; the Boca Raton 125 offering vehicle is a Delaware limited partnership. Each investor’s accredited status must be verified.
Targeted returns, including the 18–25% target IRR and 4–8% target annual cash flow, are projections based on current assumptions, are inherently uncertain and are not guaranteed. Distributions may be reduced or suspended. Real estate investments are illiquid and involve significant risk, including loss of principal. Past performance is not indicative of future results. Portfolio values ($428M current, as of October 2026; $482M stabilized) are based on independent third-party appraisals and are not realized values.
Neither the SEC nor any state securities regulator has approved or passed on the merits of any offering or the accuracy of this website. Consult your own legal, tax and financial advisors before investing.