Sagard Real Estate (SRE), a leading U.S.-based real estate investment advisor and subsidiary of Sagard, and La Caisse have launched a partnership focused on an industrial outdoor storage (IOS) strategy across major U.S. infill markets. The partnership is targeting an initial gross asset value of CAD 490 million (USD 360 million), with an option to scale the partnership through further commitments.
The IOS strategy focused on key U.S. seaport markets where strong tenant demand is driven by proximity to major ports, population centers and trade infrastructure. Priority markets include Southern California, greater New York City/northern New Jersey, the San Francisco Bay Area, Houston and the Baltimore/Washington, DC metropolitan area.
The partnership has closed its first acquisition, an IOS investment in the infill Meadowlands submarket of northern New Jersey. “Our IOS program focuses on some of the most strategically important U.S. logistics and trade markets, and this first closing directly advances our investment objectives,” said Chad Messer, deputy CIO and portfolio manager, Sagard Real Estate.
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