Sagard Real Estate, formerly EverWest Real Estate Investors, has acquired Vista Imperio, a 158-unit suburban garden-style multifamily property in Riverside, Calif.
The acquisition is the first investment in Sagard Real Estate’s newest, moderate value-added, 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 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 percent 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 re
