Sagard Real Estate Completes Sale of Marketplace in Altamonte Springs, Florida, as Part of Strategic Portfolio Optimization
ALTAMONTE SPRINGS, Fla., January 23, 2025–(BUSINESS WIRE)–Sagard Real Estate, formerly EverWest Real Estate Investors, today announced the sale of Marketplace at Altamonte, a 335,995-square-foot power center retail property located outside of Orlando in Altamonte Springs, Florida. The sale advances Sagard Real Estate’s strategy to refine its portfolio by transitioning out of power center retail assets that have peaked in performance and focusing on investments with higher return potential.
Marketplace at Altamonte, originally acquired in November 2005 under a predecessor manager, was sold from Sagard Real Estate’s open-end core, diversified equity fund. At the time of sale, the property was 55% occupied, with key tenants including Burlington, Ross, and Total Wine. Located in a secondary market and requiring capital-intensive re-tenanting efforts, the property presented an opportunity to generate meaningful proceeds that can be reinvested in property types more closely aligned with Sagard’s core competencies and strategic vision, such as seaport industrial, attainable housing and alternative sub-sectors such as industrial outdoor storage and manufactured housing.
“The sale of Marketplace at Altamonte reflects our commitment to strategically managing our portfolio to maximize value for our investors,” said John Maurer, Head of Equity at Sagard Real Estate. “After nearly 20 years of ownership, the asset was not a fit with our fund’s strategic plan going forward. Our focus remains on high-growth, supply constrained markets and property sectors we believe are positioned for outperformance.”
Sagard Real Estate, known for its expertise in managing diversified real estate funds, remains disciplined on building resilient portfolios that deliver sustainable growth. This sale highlights the firm’s ability to adapt to evolving market conditions, optimize its holdings, and capitalize on sectors poised for continued demand.
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.
