Washington Prime Group has sold Royal Eagle Plaza, a shopping center in Coral Springs, Florida, for $60.5 million. The buyers are two affiliates of Boca Raton-based Carlyle Management Group, led by Charles Rosner, and an entity managed by Edward Rutkovsky. Public records and the real estate database Vizzda confirm the transaction.
The new ownership structure allocates 66 percent to the Carlyle affiliates and 34 percent to Rutkovsky’s entity. To finance part of the acquisition, the buyers secured a $40 million loan from Wells Fargo. The purchase price equates to approximately $285 per square foot for the 211,663-square-foot property.
Royal Eagle Plaza is located at 9100-9190 Wiles Road and consists of four buildings completed in 1989. Washington Prime acquired the 11.7-acre site two years before its completion. The previous sale price was not disclosed in public records.
Tenants at Royal Eagle Plaza include McDonald’s, Bank of America, Bolay, and Kpot Korean BBQ.
Carlyle Management Group has been active in South Florida retail real estate investments in recent years. In 2022, it acquired the shopping center portion of Mainstreet at Boynton—a mixed-use development anchored by Sprouts supermarket—for $33 million. Other tenants there include AT&T and Crown Wine & Spirits.
Additionally, Carlyle owns Boynton Commons in Boynton Beach after purchasing it for $50 million in 2019; this property hosts tenants such as PetSmart and Barnes & Noble.
Recent retail activity in Coral Springs includes Perkins Realty Management’s purchase of Esplanade Center for $26.5 million earlier this year—a medical office and shopping plaza built in 1988—and another acquisition: a self-storage and retail plaza in Pembroke Pines bought for $15.5 million last July.
