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Carmel Partners buys New Jersey apartment complex
Carmel Partners has acqired Plainsboro, New Jersey-based Hunters Glen, an 896-unit garden apartment complex. No financial terms were disclosed. San Francisco, February 1, 2018 – Carmel Partners (“Carmel”), a leading real estate investment manager and ...
Carmel Partners has acqired Plainsboro, New Jersey-based Hunters Glen, an 896-unit garden apartment complexNo financial terms were disclosed.
San Francisco, February 1, 2018 – Carmel Partners (“Carmel”), a leading real estate investment manager and multifamily specialist, today announced it has acquired Hunters Glen, an 896-unit garden apartment complex, well-located in the community of Plainsboro, New JerseyThe acquisition represents Carmel’s first investment in New Jersey and a continuation of its East Coast expansionTerms of the transaction were not disclosed.
Hunters Glen, built in 1978, is a multifamily residential apartment property located at 1109 Hunters Glen DriveThe complex, situated in a park-like setting with mature trees, consists of 61 two-story wood frame buildings covering a 52.7-acre site in Plainsboro TownshipThe property offers a mix of well-sized one-bedroom, two-bedroom/one-bath and two-bedroom/two-bath unitsIt is located three miles from Route 1, the main employment corridor within the area, five miles from Princeton University, and within a few miles of a major medical centerPlainsboro, in central New Jersey, is equidistant from both New York City and Philadelphia.
Carmel plans to reposition the property, updating interiors, renovating the exterior and improving amenities, which include three resort-style pools, recently installed grills, and access to adjacent public ball fields and courts, playgrounds, walking trails and a golf course.
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