Sagard Real Estate Acquires an IOS Property in Nashville's I-840 Corridor
Sagard Real Estate, formerly known as EverWest Real Estate Investors, a leading real estate investment advisor, today has announced the successful acquisition of a strategic IOS (industrial outdoor storage) facility located at 135 Maddox Road in Mt. Juliet, TN. The site is located in Wilson County, one of the fastest-growing industrial submarkets in Nashville. The property is less than one mile from I-840 which provides quick access throughout the metro with connections to I-40, I-24 and I-65. The asset was acquired by Sagard's flag-ship, open-end diversified core fund.
"This is the first of several acquisitions that target IOS investments," stated John Maurer, Senior Managing Director, Head of Equity for Sagard Real Estate. "The plan is to increase the fund's exposure to alternative property subsectors to 10 percent of the Fund's value of which IOS investments will represent half of that target."
The property includes 7.6 acres of land and features a 50,252 sq ft truck terminal built in 2012. The terminal building has 20'-22' clear heights and the cross-dock configuration supports 43 dock-high doors, dock levelers and weather seals, 1 drive-in door, a concrete truck court, a wet sprinkler system, and LED lights. With a coverage ratio less than 15%, the site provides ample outdoor storage space and includes 64 excess trailer stalls in a fully fenced and gated truck court.
The property is 100% leased with Roadrunner Transportation Services as the sole tenant. In addition to the acquisition, Sagard Real Estate will take on the role of property manager for the asset.
"We are excited about adding this IOS facility to our infill industrial portfolio in Nashville," said Tyler Williams, Sagard Real Estate's Managing Director of Acquisitions. "The Mt. Juliet location, combined with the low coverage, functional terminal attributes and attractive in-place yield aligns with our strategic allocation to the IOS sector."
Consistent with the firm's strategy of acquiring high-demand assets in well-connected and sought-after locations, this acquisition follows Sagard Real Estate's successful track record, including the recent purchase of the Rex Distribution Center in Atlanta.
About Sagard Real Estate
Sagard Real Estate is a real estate investment advisor and operator providing investment management services throughout the U.S. including acquisitions, asset management, development and property management for our investors. With $5.2 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 multi-strategy alternative asset management firm with more than US$15B under management, 125 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 and Europe. For more information, visit www.sagard.com.
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