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| Cypress Executive Center, 1901 West Cypress Creek Road, Fort Lauderdale, FL |
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| Bruce Timm |
Fort Lauderdale, FL ---ICM Realty Group, the international
real estate investment and management firm, announced today that it has
purchased Cypress Executive Center,
one of the area’s best located office properties at 1901 W. Cypress Creek Road
in Fort Lauderdale.
The purchase represents ICM’s third investment in Florida in
the past 12 months.
The purchase was made on behalf of ICM’s (VII) U.S. Core
Plus Realty Trust, a fully discretionary private equity fund focused on
acquiring and developing office, retail and medical office properties.
As part of the purchase, ICM has committed to immediately
completing significant capital improvements and adding building amenities. In
addition, ICM intends to create an on-site property management office to better
serve the needs of the building’s occupants.
”We are pleased to be investing further in a market that has
and will continue to benefit from employment growth and the long-term
opportunities created by the recovering economy,” said Bruce Timm, ICM’s CEO. “This transaction signifies our ongoing
commitment to investing in the Southeast Florida markets.”
”A trademark of ICM is the company’s ability to provide
tenants with immediate, positive changes resulting from ICM’s signature
hands-on approach,” said ICM Managing Director Andrew Webb.
“This asset’s value-enhancement potential is an excellent
fit with our investment strategy.”
For a complete copy
of the company’s news release, please contact:
Andrew Webb
Managing Director, USA
Main: (651) 398-2662
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