Coral Springs Retail Draws $48M Institutional Buyer
The second largest retail trade in Broward County this year was inked in Coral Springs by a subsidiary of Switzerland's Zurich Insurance Group.
June 05, 2017 at 02:00 AM
5 minute read
The Royal University Plaza in Coral Springs traded for $48 million, nearly double its sale price two years ago.
New York-based Zurich Alternative Asset Management, a subsidiary of Switzerland's Zurich Insurance Group, acquired the shopping center at the corner of University and Royal Palm drives on Thursday, according to Broward County property records.
Seller CPAC Royal University LLC, a joint venture between Coral Gables-based CREC and real estate investment fund Lubert-Adler in Philadelphia, paid $26 million for the then-underperforming asset in 2015.
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