Carmel Partners Buys Hunters Glen in Plainsboro, NJ

Carmel Partners has acquired Hunters Glen, an 896-unit garden apartment complex in Plainsboro, NJ. It’s Carmel’s first investment in New Jersey.

“We were able to acquire a well-built property in a supply-constrained area at a discount to replacement cost,” said Trey Hilberg, head of investments for Carmel Partners. Built in 1978, the property at 1109 Hunters Glen Dr. includes 61 two-story, wood-frame buildings covering a 52.7-acre site in Plainsboro Township.

“Hunters Glen provides wonderful upside through unit renovations and upgrading of the amenities. That, combined with a lack of significant future development in the submarket and access to the major highways, made this investment very attractive to investors,” said Jose Cruz of HFF, who with Kevin O’Hearn, Michael Oliver and Stephen Simonelli marketed the property.

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