Washington Prime Group has sold the Royal Eagle Plaza shopping center in Coral Springs for $60.5 million. The buyer is a joint venture led by Carlyle Management Group, with Boca Raton-based affiliates of Carlyle, headed by Charles Rosner, and an entity managed by Edward Rutkovsky also from Boca Raton. According to property records and real estate database Vizzda, the purchase was partially financed through a $40 million loan from Wells Fargo.
The ownership structure following the sale allocates 66 percent to Carlyle’s affiliates and 34 percent to Rutkovsky’s entity. The transaction values the 211,663-square-foot property at about $285 per square foot. Royal Eagle Plaza, located at 9100-9190 Wiles Road, consists of four buildings on an 11.7-acre site that Washington Prime acquired in 1987. The shopping center was completed in 1989. The price Washington Prime originally paid for the site is not recorded in public documents.
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’s retail market. In 2022, it purchased the shopping center portion of Mainstreet at Boynton—a mixed-use development anchored by a Sprouts supermarket—for $33 million. Other tenants there include AT&T, Crown Wine & Spirits, F45, Capitol Carpet & Tile, and GoodVets.
The firm also owns Boynton Commons in Boynton Beach after acquiring the 22.6-acre property for $50 million in 2019; current tenants are PetSmart, Party City, Bed Bath & Beyond, and Barnes & Noble.
In another recent deal involving Coral Springs retail space, Perkins Realty Management bought Esplanade Center—comprising medical offices and retail—for $26.5 million at 901-1001 University Drive. Perkins Realty also expanded its holdings with a July acquisition of a self-storage and retail plaza in Pembroke Pines for $15.5 million.
