Sagard Real Estate Acquires 158-unit Garden-Style Apartment in Riverside
LA TimesSagard Real Estate acquired Vista Imperio, a 158-unit garden-style apartment located at 5880 Lochmoor Drive in Riverside for $49.9 million, or $316,000 per unit. The investment firm, formerly known as EverWest Real Estate Investors, acquired the property from Blackstone Group, which had acquired it as part of a $2-billion portfolio, in 2016. “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,” said John Maurer, senior portfolio manager and head of equity for Sagard Real Estate, in a statement. Founded in 1997, Sagard Real Estate has $4.9 billion in assets under management and is part of a larger investment firm that manages $25 billion across private equity, venture capital, private credit and real estate.
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