Sagard Buys Georgia Community

Sagard Real Estate has acquired Grande Oaks, a 270-unit garden-style community in Roswell, Ga., from Starwood Capital Group. The property is located at 100 Legacy Oaks Circle.

Grande Oaks, built in 1996, spans more than 311,000 rentable square feet on 19 acres. The community is made up of 11 residential buildings.

Sagard Real Estate will apply a value-add renovation program to the community, including upgrading 121 apartments with in-unit laundry, enhancing common areas and adding new amenities.

“The community is well-positioned within this sought-after location, providing connectivity to key amenities and a well-established residential setting,” Matt DiVito, director of acquisitions, Sagard Real Estate, told Multi-Housing News. “We believe Grande Oaks is well-suited to serve the growing demand for quality housing in the area. As a firm, we focus on acquiring well-positioned assets in high-demand markets, and we see an opportunity to enhance this property through strategic renovations that will further elevate its appeal and long-term value.”

The community features a clubhouse, fitness center, pool, outdoor fireplace, grill, picnic area, children’s playground, car wash and pet-friendly facilities such as a dog park and pet wash station.

Starwood Capital Group initially purchased the community in 2021 for $77.7 million, according to Yardi Matrix data. At the time of the latest transaction, it was 96 percent occupied.

Grande Oaks is situated on Georgia State Route 400, two miles from downtown Roswell with dining, retail, and entertainment options. Public and private schools, major grocers and retailers, and outdoor recreation are also nearby.

Downtown Atlanta is approximately 23 miles south of the community. Alpharetta’s Tech Corridor, the Roswell Riverwalk and the Chattahoochee River National Park are easily accessible.

Roswell’s growing population, and proximity to Atlanta, contribute to a strong demand for rental properties, according to Doug Ressler, manager of business intelligence, Yardi Matrix. Its low unemployment rate and diverse economy, with strong sectors in science, retail, and hospitality, support a reliable tenant base and economic stability.

The purchase of Grande Oaks was made in a partnership with McCann Realty Partners and property manager Pegasus Residential.

Other Sagard transactions

Sagard Real Estate has had a busy last couple of months, purchasing across the nation.

In January, the company acquired Alta Green Mountain, a Class A community in the West Denver submarket of Lakewood. Built in 2019 by Wood Partners, the 260-unit property comprises 10 low-density, garden-style residential buildings.

In December of last year, Sagard Real Estate acquired Vista Imperio apartments in Riverside, Calif. The 158-unit garden-style property was the first investment by Sagard Real Estate’s most recent open-end fund, which targets workforce housing.