Investcorp, the Middle Eastern investment firm, has announced acquiring Coral Palm Plaza, a shopping centre located in Coral Springs, Florida, in its third real estate investment in the US in three months with a total value of $120 million.
The purchase of the 135,672 square foot mall, in a joint venture with Lincoln Equities, was the most recent of three purchases made by Investcorp in the past three months with a total value of approximately $120 million. (The first was the acquisition, in January, of Princeton Forrestal Village, a 550,000 square foot mixed-use development in Princeton, New Jersey. The second was the acquisition of The Shops at Tech Ridge, a 332,845 square foot retail power centre in Austin, Texas in February, in joint venture with Global Fund Investments).
Investcorp is listed in the Middle East Investors Directory with the code OR30.
Their full press release follows
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