Windsor at Chancery Square is a six-story class A apartment property located in downtown Morristown just off Morristown Green. The property offers studios, one- and two-bedroom apartments and ground-floor retail.

The three-story Windsor at Morris Plains is a class A apartment project located near the Morris Plains train station. The property offers one- and two-bedroom apartments.

“The growth of our portfolio is based on assets and locations that are timeless,” said Emanuel Stern, president and COO of Hartz Mountain Industries, in prepared statement. “We also recently took an equity position in Roseland Management, assuring that we have the finest property management company behind maintaining the asset and providing exemplary services to our residents.”

Given the quality of the projects, financing the deal was not difficult, Dunne adds. “The difficulty is finding good quality projects that meet the parameters” of Hartz Mountain, he says. “They want to be in high demographic, hard-to-enter markets.”

The company is looking farther afield from its traditional New York/New Jersey base, he notes. Earlier this year, Hartz Mountain acquired One Superior Place, a multifamily building in Chicago, for more than $300 million.

“These guys have never even looked at Chicago, but they liked what they saw,” Dunne says. “They didn’t make a little bet; they made a $320 million bet.”