Washington Prime Group sold a Coral Springs shopping center for $60.5 million to a joint venture led by Carlyle Management Group.
Two affiliates of Boca Raton-based Carlyle Management, led by Charles Rosner, and an entity managed by Edward Rutkovsky in Boca Raton bought Royal Eagle Plaza at 9100-9190 Wiles Road, records and real estate database Vizzda show. The buyer partially financed the purchase with a $40 million Wells Fargo loan.
The Carlyle affiliates own 66 percent, and Rutkovsky’s entity owns 34 percent of Royal Eagle Plaza, the deed shows. The deal breaks down to $285 a square foot for the 211,663-square-foot shopping center.
Consisting of four buildings, Royal Eagle Plaza was completed in 1989, two years after Columbus, Ohio-based Washington Prime, led by Christopher Conlon, acquired the 11.7-acre site, records show. The previous sale price is not listed in records.
Other tenants at Royal Eagle Plaza include McDonald’s, Bank of America, Bolay and Kpot Korean BBQ.
Carlyle is an active retail investor in South Florida. In 2022, the firm paid $33 million for the shopping center component of Mainstreet at Boynton, a mixed-use project that includes other outparcels and a senior living facility. The shopping center is anchored by a Sprouts supermarket, and other tenants include AT&T, Crown Wine & Spirits, F45, Capitol Carpet & Tile and GoodVets.
Carlyle also owns Boynton Commons in Boynton Beach. The firm paid $50 million for the 22.6-acre property in 2019. Tenants include PetSmart, Party City, Bed Bath & Beyond and Barnes & Noble.
In other recent retail transactions in Coral Springs, Perkins Realty Management paid $26.5 million for Esplanade Center, a medical office and shopping center at 901-1001 University Drive that was completed in 1988. Based in Deerfield Beach and Lynn, Massachusetts, Perkins Realty also purchased in July a self-storage and retail plaza in Pembroke Pines for $15.5 million.