Sagard Real Estate Expands Multifamily Portfolio with Acquisition of Highlands at Morris Plains in Northern NJ

MORRIS PLAINS, N.J.--(BUSINESS WIRE)--Sagard Real Estate, formerly EverWest Real Estate Investors, a leading real estate investment firm, today announced the acquisition of Highlands at Morris Plains, a workforce housing apartment community located in Morris Plains, New Jersey. This acquisition marks the third investment for Sagard Real Estate’s recently launched moderate value-add, open-end fund, which targets seaport/last-mile industrial, attainable rental housing serving the local workforce, and other niche property sub-sectors 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 I-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 Magazine’s 9th best place to live for families.

“This fund is designed to capitalize on today’s market dislocation and shifting investor appetite, with a focus on workforce housing and last-mile logistics that are supported by structural demand drivers and limited new supply,” said John Maurer, Head of Equity at Sagard Real Estate. “Highlands at Morris Plains exemplifies the type of opportunity where we see potential to deliver strong risk-adjusted returns for our investors.”

Tyler Williams, Co-Portfolio Manager for the fund, added, “We’re excited to add Highlands at Morris Plains to our portfolio, aligning with our strategy of investing in well-located assets in established, high-demand submarkets. We’ve targeted Northern New Jersey for its appeal to the greater NYC workforce, particularly for young families. The property’s physical plant, location and amenities provide a solid foundation for long-term investment, while the original unit finishes offer an opportunity to upgrade interiors and enhance value near-term.”

Built in 2003, Highlands at Morris Plains spans 5.4 acres and includes two wood-frame residential buildings totaling 116 apartment homes. The community features a well-rounded amenity package, including a fitness center, gazebo with barbeque stations, open green space, and both covered and surface parking. Apartment interiors offer nine-foot ceilings, stainless-steel appliances, in-unit washers and dryers, vinyl flooring, and walk-in closets.

Sagard Real Estate plans to execute a value-add renovation program, including upgrading 96 units, enhancing common areas, and improving outdoor amenities. This acquisition aligns with Sagard Real Estate’s broader strategy of investing in high-quality assets in dynamic markets, executing focused capital improvements and active asset management to drive long-term value for residents and investors alike.

About Sagard Real Estate

Sagard Real Estate is a vertically integrated 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 $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 over US$27B under management, 150+ 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 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.