Sagard Real Estate and La Caisse Launch Industrial Outdoor Storage Joint Venture Strategy

Sagard Real Estate (SRE), a leading U.S.-based real estate investment advisor and subsidiary of Sagard, a global multi-strategy alternative asset management firm, and La Caisse (formerly CDPQ), a global investment group, today announced the launch of a new partnership focused on an Industrial Outdoor Storage (IOS) strategy across major U.S. infill markets, with an initial target gross asset value of CAD 490M (USD 360M) and the option to scale the partnership through further commitments.

This partnership between two major Québec institutions will deploy an 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, D.C., metropolitan area.

“Our partnership with Sagard enables us to create a dedicated IOS platform that strengthens our real estate portfolio construction strategy through diversification into alternative sectors,” said Rana Ghorayeb, Executive Vice-President and Head of Real Estate at La Caisse. “IOS is a critical supply chain asset class, benefiting from strong structural tailwinds—e-commerce growth, global trade, and nearshoring. By leveraging Sagard’s fully integrated regional teams and proven off-market sourcing capabilities, we gain privileged access to high-quality opportunities.”

“We are proud to partner with La Caisse on this new IOS strategy. Our teams have worked closely to define the markets, lifecycle, and we look forward to executing on this together,” said Mark Bigarel, President of Sagard Real Estate. “This partnership brings together two like-minded institutions with aligned values and complementary strengths. With La Caisse’s scale and long-term vision, combined with our operator-driven expertise, we are well-positioned to capture compelling opportunities in markets with strong fundamentals and durable demand drivers.”

The partnership has closed its first acquisition, an IOS investment in the highly infill Meadowlands sub-market, serving the greater New York City area. The location of the fully leased operational hub offers strong connectivity to Manhattan and the Port of New York and New Jersey, supporting long-term structural demand.

“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. “With limited supply and high demand for well-located outdoor storage facilities near major seaports and population hubs, we believe this strategy is uniquely positioned to generate attractive, risk-adjusted returns through disciplined sourcing, value creation, and active management.”

The partnership affirms Sagard Real Estate and La Caisse’s commitment to advancing IOS across major U.S. port and population-center markets, establishing a scalable platform supported by long-term capital and durable demand fundamentals.