Caisse de dépôt et placement du Québec (La Caisse) and Sagard Real Estate are partnering to invest in industrial outdoor storage (IOS) facilities near major U.S. seaports, beginning with an acquisition in Meadowlands, New Jersey. The partners are targeting a CAD $490 million (USD $360 million) capital deployment in markets that offer connectivity to logistics and trade infrastructure and major population centres.

“IOS is a critical supply chain asset class, benefiting from strong structural tailwinds — e-commerce growth, global trade and near-shoring,” maintains Rana Ghorayeb, executive vice president and head of real estate at La Caisse. “By leveraging Sagard’s fully integrated regional teams and proven off-market sourcing capabilities, we gain privileged access to high-quality opportunities.”

In particular, the partners are seeking assets in the New York/New Jersey, southern California, San Franciso Bay, Houston and Baltimore/Washington, D.C. regions. “With limited supply and high demand for well-located outdoor storage facilities near major seaports and population hubs, we believe this strategy is uniquely positioned to generate attractive, risk-adjusted returns through disciplined sourcing, value creation, and active management,” says Chad Messer, deputy chief investment officer and portfolio manager with Sagard Real Estate.

Sagard Real Estate, the real estate arm of the global alternative asset management firm, Sagard, boasts USD $6 billion in assets under management. La Caisse is a Quebec-based pension fund and global investment group with net assets of CAD $517 billion as of Dec. 2025.