Sagard Real Estate, formerly EverWest Real Estate Investors, has acquired Highlands at Morris Plains, a workforce housing apartment community located in Morris Plains, N.J.
This acquisition marks the third investment for Sagard Real Estate’s recently launched moderate value-added, open-end fund, which targets seaport/last-mile industrial, attainable rental housing serving the local workforce, and other niche property subsectors in supply-constrained and high-growth markets.
Highlands at Morris Plains is situated in an affluent Northern New Jersey suburb with strong household demographics, proximity to transit, and access to major employment hubs. Located just half a mile from the Morris Plains NJ Transit station and near Interstate 287, I-80 and Route 24, the property offers convenient access to Manhattan as well as regional employers. The neighborhood is recognized for its top-ranked schools, quality retail and close proximity to Morristown — Fortune maga
