Sagard Real Estate Enhances Portfolio With Premier Class A Property in Arizona

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TEMPE, Ariz.--(BUSINESS WIRE)--Oct 3, 2024--

Sagard Real Estate, formerly known as EverWest Real Estate Investors, a leading real estate investment advisor, announces the acquisition of a premier Class A multifamily property located at 701 W Rio Salado Parkway in Tempe, Arizona. This strategic acquisition aligns with Sagard Real Estate’s commitment to expanding its portfolio with high-quality assets in key growth markets.

“Our recent acquisition of this Class A property in Tempe is a testament to our ongoing strategy of identifying and securing premium assets in markets with strong demand drivers,” said John Bezouska, Vice President, Acquisitions at Sagard Real Estate. “We continue to seek both mid-rise and garden apartments in major metro areas in the US with unique value propositions. The Tempe market, with its vibrant community and proximity to major employment centers, provides an excellent opportunity for long-term value creation for our investors.”

The newly acquired property, built in 2019, consists of 209 units and offers a range of modern amenities, including a full pool deck, rooftop lounge, and outdoor courtyards. The property, which spans 3.2 acres, also features 375 parking spaces and is situated less than a mile from downtown Tempe and Arizona State University. Its prime location provides strong connectivity to key urban centers while offering a high-quality residential experience.

The Tempe submarket is recognized for its strong growth momentum. Driven by the presence of Arizona State University and a growing tech and finance sector, there continues to be robust demand and sustained tenant interest in well-located, high-quality assets within the Tempe market.

Steve Nikoluzakis & David Fogler of Cushman and Wakefield facilitated the off-market transaction, reflecting Sagard Real Estate’s ability to identify and secure high-caliber investments while avoiding the bid-auction market. The Tempe property complements the firm's growing multifamily portfolio and is expected to contribute significantly to long-term performance.

About Sagard Real Estate

Sagard Real Estate is a real estate investment advisor and operator providing investment management services throughout the U.S. including portfolio management, acquisitions, asset management, development and property management for our investors. With $4.7 billion in assets under management, our clients invest in a variety of commercial real estate investment strategies through separate accounts and commingled funds. Sagard Real Estate is based in Denver with regional investment offices in New York City, Charlotte, Austin, Los Angeles and San Francisco metro areas. Sagard Real Estate is a part of Sagard, a multi-strategy alternative asset management firm. Sagard’s leading shareholder is Power Corporation of Canada, an international management and holding company that focuses on financial services in North America, Europe and Asia. For more information, visit www.Sagard.com/RealEstate.

About Sagard

Sagard is a global multi-strategy alternative asset management firm with more than US$25B under management, 150+ portfolio companies, and 300 professionals. We invest in venture capital, private equity, private credit, real estate, and royalties. We deliver flexible capital, an entrepreneurial culture, and a global network of investors, commercial partners, advisors, and value-creation experts. The firm has offices in Canada, the United States, Europe and the Middle East. For more information, visit www.sagard.com.

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KEYWORD: ARIZONA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE FINANCE CONSTRUCTION & PROPERTY ASSET MANAGEMENT

SOURCE: Sagard Real Estate

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PUB: 10/03/2024 09:00 AM/DISC: 10/03/2024 09:00 AM

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