A joint venture between the KRE Group, Oxford Realty Group and Verde Capital have acquired Deer Creek, a 288-unit rental community in Plainsboro, NJ. The trio paid $45 million for the property located at 305 Deer Creek Dr. or just under $147,541 per unit. The partnership plans a number of renovations for the community including luxury finishes for the kitchens, in-unit washer/dryers, and a newly constructed fitness center. “We believe Deer Creek is a property with enormous potential,” said Darin Raiken, Director of Acquisitions for the KRE Group. “We plan on executing a strategy similar to the one we’ve implemented at Royal Gardens, investing in capital improvements to enhance tenant quality of life and increase the value of the property.”
