Sagard Real Estate Ventures into Growth with New Fund

Sagard Real Estate Expands Portfolio with New Acquisition

Sagard Real Estate, the firm formerly known as EverWest Real Estate Investors, is making waves in the real estate market with its recent acquisition of Vista Imperio. This strategic investment involves a 158-unit suburban garden-style multifamily property, marking a significant step forward for the company in its ongoing efforts to grow its presence in high-demand markets.

Understanding Vista Imperio's Potential

Located on an expansive eight-acre site, Vista Imperio features 136,000 rentable square feet and offers a variety of living spaces, predominantly one-bedroom and two-bedroom units. Built in 2004, the property is equipped with modern conveniences, including private patios, in-unit laundry facilities, stainless steel appliances, and dedicated garages. Importantly, around one-third of these units remain unrenovated, providing an exciting opportunity for Sagard Real Estate to enhance the property's value through targeted renovations.

Strategic Growth in Competitive Markets

John Maurer, Senior Portfolio Manager and Head of Equity at Sagard Real Estate, expressed enthusiasm about the acquisition: "We’re pleased to begin building a portfolio of quality attainable apartment investments like Vista Imperio in markets we believe will outperform in the coming years. The opportunity to invest at what we see as bottom pricing positions us well for the future." Maurer's perspective reflects the company's commitment to navigating the ever-evolving real estate landscape.

Location and Nearby Amenities

The strategic location of Vista Imperio in the Sycamore Canyon area significantly enhances its appeal. With nearby employment hubs, including a substantial industrial park and the University of California Riverside, residents benefit from convenience and accessibility. The property is also in proximity to highly-rated schools, public parks, and diverse retail options, making it an attractive choice for young families and professionals seeking a balanced lifestyle.

Market Insights and Expectations

Research from industry experts, like Green Street, has indicated that the Inland Empire has experienced robust rent growth, largely driven by spillover demand from neighboring regions. Tyler Williams, Co-Portfolio Manager, commented on this trend, highlighting the potential for value-added investment: "We’re excited to execute on a value-add opportunity within the attainable housing space and capitalize on our proven ability to create value for both our apartment community residents and our investors."

Focus on Attainable Housing

Sagard Real Estate defines attainable housing as multifamily properties designed to accommodate residents earning between 70% and 120% of the median area income. The company’s enhancement plan for Vista Imperio involves operational improvements and upgrades to current amenities, including renovations to the pool area and fitness center. This transformative approach will modernize the property and foster a community that prioritizes quality living for middle-income residents.

About Sagard Real Estate

Sagard Real Estate operates as a premier real estate investment advisor and operator within the United States. Its comprehensive services encompass various aspects of investment management, including portfolio management, acquisitions, asset management, development, and property operations. With an impressive $4.9 billion in assets under management, Sagard delivers tailored commercial real estate strategies through individual accounts and pooled funds. Founded in 1997, the firm has its headquarters in Denver and boasts regional offices across key cities such as New York City, Charlotte, Austin, Los Angeles, and San Francisco.

About Sagard

Founded as a multi-strategy alternative asset management firm, Sagard manages over US$25 billion in assets. With a portfolio comprising 150 companies and a team of 400 professionals, the firm invests across various sectors, including venture capital, private equity, private credit, and real estate. Sagard is dedicated to providing flexible capital solutions, sustaining an entrepreneurial culture, and leveraging a global network of partners to drive value creation. The firm operates offices in Canada, the United States, Europe, and the Middle East.

Frequently Asked Questions

What is Vista Imperio?

Vista Imperio is a 158-unit suburban garden-style multifamily property acquired by Sagard Real Estate as part of their growth strategy.

What is Sagard Real Estate's investment focus?

Sagard Real Estate focuses on attainable housing that targets individuals and families earning 70-120% of the median area income.

What kinds of renovations are planned for Vista Imperio?

The renovation plan includes upgrades to amenities and interiors, aimed at enhancing the overall value of the property.

Where is Vista Imperio located?

Vista Imperio is strategically located in the desirable Sycamore Canyon area of Riverside, close to major employment centers and educational institutions.

What is Sagard's overall strategy for growth?

Sagard aims to expand its portfolio in supply-constrained, high-growth markets through strategic acquisitions that offer value-add potential.

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