Sagard Real Estate's Strategic Expansion in Industrial Properties
Sagard Real Estate's Strategic Expansion in Industrial Properties
Sagard Real Estate, previously known as EverWest Real Estate Investors, is making significant strides in the industrial real estate market. They recently announced the acquisition of two integral industrial properties located in important markets on the East Coast. These acquisitions are part of a broader strategy to strengthen Sagard's investment portfolio while collaborating with institutional investors for substantial industrial investments.
Recent Industrial Acquisitions
These latest acquisitions reflect Sagard's commitment to expanding its property portfolio with high-quality industrial assets. John Maurer, Senior Managing Director and Head of Equity at Sagard, emphasized the importance of these moves saying, "Our recent acquisitions underscore our ongoing commitment to expanding Sagard Real Estate’s portfolio with high-quality industrial assets in strategically important markets. By securing properties in key markets like New Jersey and Maryland, we are well-positioned to deliver strong, long-term returns for our investors."
Details of the New Properties
The first property acquired by Sagard is located on 4.3 acres at 80 Essex Avenue East in Avenel, New Jersey. This industrial building spans an impressive 80,468 square feet and is strategically positioned just 11 miles southwest of Port Newark, making it ideal for distribution purposes.
Acquired for $24.1 million, or $300 per square foot, Sagard Real Estate plans to optimize the rent roll and complete capital improvements after tenant rollover, which will allow them to re-lease the property at market rates. The site benefits from excellent connectivity, a factor highly valued by national and regional distributors. Originally constructed in 1975 and recently renovated in 2022, the property is fully leased until October 2025.
The second property, located at 7314 Race Road in Hanover, Maryland, is a newly constructed industrial building that encompasses 130,389 square feet across 12.4 acres. Securing this property for $33.5 million, which translates to $257 per square foot, reflects Sagard's strategy to grow its industrial portfolio. The property is conveniently located just 5 miles from BWI Airport and 14 miles from the Port of Baltimore, enhancing its appeal within the Anne Arundel County submarket.
Ongoing Strategy and Market Position
These acquisitions not only bolster Sagard Real Estate's portfolio but also underline the firm’s ability to identify and secure high-quality assets in critical markets. The strategic locations of both properties are expected to contribute positively to long-term value creation for the firm.
About Sagard Real Estate
Sagard Real Estate functions as a comprehensive real estate investment advisor and operator, specializing in various investment management services across the United States. With an impressive $5.2 billion in assets under management, Sagard allows clients to invest in diverse commercial real estate strategies through separate accounts and commingled funds. The firm is headquartered in Denver and maintains regional offices in major cities, amplifying its operational footprint across the country.
As part of Sagard, a global multi-strategy alternative asset management firm, Sagard Real Estate benefits from a robust network and operational expertise. Sagard's standing shareholder, Power Corporation of Canada, enhances its financial strength and operational capabilities. Together, they manage over $25 billion in assets across various investment strategies.
Frequently Asked Questions
What are the recent acquisitions made by Sagard Real Estate?
Sagard Real Estate has acquired two industrial properties located in New Jersey and Maryland, focusing on enhancing its investment portfolio in strategically relevant markets.
What is the significance of the locations of the new properties?
The new properties are strategically located near key transportation hubs, enhancing their appeal to national and regional distributors and supporting long-term investment returns.
How does Sagard Real Estate plan to manage the new acquisitions?
Sagard plans to optimize the rent roll of both properties, complete necessary capital improvements, and re-lease them at market rates upon tenant rollover.
What is Sagard's overall investment strategy?
Sagard Real Estate's strategy emphasizes acquiring high-quality assets in strategically important markets, aiming to provide strong long-term returns for its investors.
What does Sagard Real Estate offer to its clients?
Sagard Real Estate offers a comprehensive range of investment management services, including acquisitions, asset management, development, and property management across the U.S.
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