RIVERSIDE, CA – December 5, 2024– Sagard Real Estate, formerly EverWest Real Estate Investors, a leading real estate investment firm, today announced the acquisition of Vista Imperio, a 158-unit suburban garden-style multifamily property in Riverside, CA. The acquisition is the first investment in Sagard Real Estate’s newest, moderate value-add, open-end fund, which targets seaport industrial, attainable rental housing, and other niche property sectors in supply-constrained and high-growth markets the firm believes will outperform in the coming years.
Built in 2004, Vista Imperio spans over 136,000 rentable square feet on an eight acre site, offering a mix of one-bedroom and two-bedroom units. The property features private patios, in-unit laundry, stainless steel appliances, and private garages, with 50% of units offering direct in-unit garage access. Amenities include a large pool with a sundeck, cabanas, a fitness center, and a clubhouse. With about one-third of the units unrenovated, the property presents an opportunity to add value through targeted renovations.
“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, at what we predict to be bottom market pricing this cycle,” shared John Maurer, Senior Portfolio Manager and Head of Equity for Sagard Real Estate. “Late 2024 and 2025 appear to be attractive vintage years for new real estate investments.”
Situated in the desirable Sycamore Canyon area of Riverside, Vista Imperio benefits from its proximity to major employment hubs, including a 12+ million-square-foot industrial park within a quarter mile and the University of California Riverside, just two miles away. The property’s location also provides easy access to top-rated schools, recreational parks, and retail options, making it an ideal choice for young families and professionals.
“Green Street’s recent research commentary supports our view that rent growth in the Inland Empire has been among the strongest in the nation given spillover demand from Orange County and Los Angeles,” added Tyler Williams, Co-Portfolio Manager. “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.”
Sagard Real Estate defines attainable housing as multifamily properties that serve a tenant base earning 70-120% of median income for the area. The value-enhancement plan for Vista Imperio includes improving operations and upgrades to amenities, including the pool deck and fitness center facilities. The firm will also renovate outdated units as they turn over, creating a modern, high-quality community for middle-income residents.
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 investors. With $4.9 billion in assets under management, Sagard Real Estate offers commercial real estate investment strategies through separate accounts and commingled funds. Founded in 1997, the firm is headquartered in Denver and maintains 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. For more information, visit www.sagard.com/realestate or follow us on LinkedIn.
About Sagard
Sagard is a global multi-strategy alternative asset management firm with over US$25B under management, 150 portfolio companies, and 400 professionals. We invest in venture capital, private equity, private credit, and real estate. We deliver flexible capital, an entrepreneurial culture, and a global network of investors, commercial partners, advisors, and value-creation experts. Our firm has offices in Canada, the United States, Europe , and the Middle East.
For more information, visit www.sagard.com or follow us on LinkedIn.
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