(Ian Ritter is national online editor for GlobeSt.com/RETAIL.)
NEW YORK CITY-Locally based real estate investment firm Investcorp has acquired two open-air centers--one in Florida and the other in New Jersey--for $115 million. The purchases bring the company to more than $400 million in commercial investments so far this year.
Investcorp bought the 335,854-sf Embassy Crossing Shopping Center, in Port Richey, FL, from a joint venture between Prudential Insurance and DeBartolo Holdings. Bed Bath & Beyond, Ross Dress For Less and the Sports Authority anchor the property.
In Ocean Township, NJ, Investcorp purchased the 856,437-sf Seaview Square Shopping Center, from affiliates of Starwood-Heller Enterprises. Costco and Target are the primary anchors of that center.
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