Sagard Real Estate (SRE) and La Caisse have expanded their industrial outdoor storage (IOS) portfolio with the acquisition of a 13-acre property in Austin, Texas.

The acquisition marks the latest investment by the joint-venture launched in March with an initial target gross asset value of US$360 million (C$490 million) focused on IOS assets in major U.S. infill markets. The partnership targets properties near key ports, population centres and transportation infrastructure, with priority markets including Southern California, the New York-New Jersey region, the San Francisco Bay Area, Houston and Baltimore-Washington.

“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, benefitting 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.”

The Austin acquisition follows the partnership’s first purchase in the Meadowlands submarket serving the greater New York City area. Sagard and La Caisse said they are building a scalable platform supported by long-term capital and demand for outdoor storage facilities used in logistics and supply-chain operations.

“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.”

Atlanta-based SRE is the U.S. subsidiary of Montreal-headquartered global asset manager Sagard, which has more than US$46 billion of assets under management, 190 portfolio companies and 540-plus professionals.

Quebec City-based La Caisse ranks as Canada’s largest pension fund with $517 billion worth of assets under management, with $175 billion of those in Canada and another $342 billion in various countries, as of year-end 2025.

Pictured: Austin IOS property in Austin purchased by Sagard and La Caissse’s joint-venture.

Photo: Business Wire/Sagard

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