OTPP Launches JV With Sagard Real Estate to Invest in US Industrial Properties

Earlier today, OTTPP announced it has launched a joint venture with Sagard Real Estate to acquire and industrial facility in Houston: 

Toronto, Canada – Sagard Real Estate, a leading U.S.-based real estate investment advisor, and subsidiary of Sagard, a multi-strategy alternative asset management firm with US$32B+ of AUM, and Ontario Teachers’ Pension Plan (“Ontario Teachers’”), have completed the acquisition of a 163,402 square-foot industrial facility in Southeast Houston. The facility is located within Houston’s premier submarket and offers immediate access to Beltway 8, Highway 225, and proximity to the Port of Houston’s busiest container terminals, ensuring strong regional connectivity.

The acquisition marks the inaugural transaction under a new joint venture between Sagard Real Estate and Ontario Teachers’. The joint venture is structured to ensure alignment between both firms through a flexible, institutional investment approach. It will focus on value-add industrial opportunities across major U.S. markets and reflects both institutions’ conviction in the fundamentals of the industrial sector and their shared commitment to building scalable, strategic partnerships. The approach is also rooted in active asset management, strategic capital improvement, and value creation.

"We are excited to partner with Ontario Teachers’ on this new U.S. industrial initiative,” said Mark Bigarel, COO & Head of Investments at Sagard Real Estate. “This relationship brings together two institutions with aligned values, a disciplined investment philosophy, and a shared perspective on opportunity in the industrial sector. We view this as the right time to initiate a strategy focused on lasting value creation in a sector supported by enduring demand drivers."

“As we look to expand in the U.S. industrial sector, this investment fits well with our long-term, global strategy. We also believe that, with the underlying market dynamics, this asset provides long-term growth potential,” said Karl Kreppner, Senior Managing Director, Real Estate, Ontario Teachers’. “We are pleased to be working with Sagard—a partner with deep sector expertise and an operator mindset—and we are looking ahead to identifying and collaborating on future opportunities.”

About Ontario Teachers'

Ontario Teachers' Pension Plan Board (Ontario Teachers') is a global investor with net assets of $269.6 billion as at June 30, 2025. Ontario Teachers’ is a fully funded defined benefit pension plan, and it invests in a broad array of asset classes to deliver retirement security for 343,000 working members and pensioners. For more information, visit otpp.com and follow us on LinkedIn.  

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, debt origination, asset management, development, and property management for investors. With US$5.2 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.

About Sagard

Sagard is a global multi-strategy alternative asset management firm with more than US$32B under management, 190 portfolio companies, and 400 professionals.

We invest in venture capital, private equity, private credit, and real estate.  We deliver flexible capital, an entrepreneurial culture, and a global network of investors, commercial partners, advisors, and value creation experts.  Our dynamic and supportive ecosystem gives our partners the advantage they need to learn, grow and win at every stage. The firm has offices in Canada, the United States, Europe and the Middle East.

For more information, visit www.sagard.com or follow us on LinkedIn. 

OTPP teamed up with Sagard Real Estate which is a real estate investment advisor and operator providing investment management services throughout the US including acquisitions, asset management, development and property management for its investors.

Formerly called EverWest, Sagard Real Estate has a very experienced team and their investment focus is across sectors, offering a a variety of commercial real estate investment strategies, including separate accounts and commingled funds, for all property sectors and lifecycles. 

They've completed a few nice deals over the past year which you can view on LinkedIn here. 

I remember two years ago when Sagard brought on PSP's former CEO, Neil Cunningham, to be an advisor to Sagard Real Estate:

 

The Desmarais family led by Paul Desmarais III has done a wonderful job growing Sagard from its humble beginnings in 2002 to a global alternative asset manager active in venture capital, private equity, private credit, real estate. 

Since 2016, Sagard has experienced significant growth, with assets under management increasing to over $32B, some 400 professionals joining the team and over 150 companies in the portfolio.

This week, Baird, a Milwaukee-based privately-held financial services firm, took a minority equity stake in Montreal-based Sagard and as part of the deal, Baird will look to distribute Sagard’s products in its US private wealth business. 

All this to say, Sagard is the real deal and that's why OTPP's Real Estate division completed this deal with Sagard Real Estate to acquire an industrial property in Houston, its first industrial property in the US.   

Also worth noting what Karl Kreppner, Senior Managing Director, Real Estate, Ontario Teachers’ stated in the press release:

“As we look to expand in the U.S. industrial sector, this investment fits well with our long-term, global strategy. We also believe that, with the underlying market dynamics, this asset provides long-term growth potential. We are pleased to be working with Sagard—a partner with deep sector expertise and an operator mindset—and we are looking ahead to identifying and collaborating on future opportunities.”  

Bottom line, strong alignment of interests, values, a disciplined investment philosophy, and a shared perspective on opportunity in the industrial sector as Mark Bigarel, COO & Head of Investments at Sagard Real Estate stated in the press release.

Below, watch a clip on Sagard Real Estate and see why it's the right fit for OTPP and other institutional and high net worth investors.