Investcorp Real Estate Group Sells Clearwater, FL Shopping Center to Ramco-Gershenson Properties Trust

NEW YORK, April 2 /PRNewswire/ -- Investcorp Real Estate Group today announced that it has completed the sale of Cypress Point Shopping Center, a 166,933-square-foot retail property in Clearwater, Florida, to Ramco- Gershenson Properties Trust (NYSE: RPT) . Terms of the transaction were not disclosed.

New York-based Investcorp acquired Cypress Point in November 2004. The property is 97% occupied and anchor tenants include Burlington Coat Factory and Fresh Markets. It is located along US Highway 19 North, the primary north-south commercial roadway in Pinellas County.

Christopher Sameth, a Principal at Investcorp, said, "Our investment in Cypress Point achieved all of our investment objectives and we are pleased to realize value for our investors."

Investcorp was advised on Cypress Point by Gumberg Asset Management of Ft. Lauderdale, Florida, which also acted as property manager and leasing agent. Staubach Capital Market's East Coast Retail Investment Team represented Investcorp on the sale.

About Investcorp

Investcorp's New York-based team of real estate professionals invests in all major real estate asset classes throughout the U.S. with investment profiles ranging from core-plus to opportunistic, for mid- to long-term holding periods. The team oversees a portfolio with a current value in excess of $3.5 billion in selected urban and suburban markets in the U.S. Over the past decade, Investcorp has acquired real estate with an initial capitalization of approximately $6.5 billion.

Recently, along with TriLyn LLC and the Bank of Scotland, Investcorp launched TriLyn-Investcorp Mezzanine Partners I, L.P., a fund formed to originate, invest in and hold a wide range of structured mezzanine and other high-yielding debt and preferred equity investments in U.S. commercial and residential real estate, including in existing property, development and land investments. The Fund initially closed in January 2007 with $100 million in capital commitments and has since been increased to $120 million based on subsequent investor capital commitments.

Investcorp is a leading provider and manager of alternative investment products. It has offices in New York, London and Bahrain and is publicly traded on the London Stock Exchange (IVC) and Bahrain Stock Exchange (INVCORP). The firm has five lines of business: private equity, real estate, hedge funds, venture capital and Gulf growth capital. Founded in 1982, Investcorp has grown to become one of the largest and most diverse alternative investment managers in terms of both product offerings and geography, and currently has over $10 billion in invested assets under management. Additional information on Investcorp may be found at http://www.investcorp.com/, or through the contacts below.

  Business Contact                    Media Contacts
  Peter Petron                        Todd Fogarty/Joseph Kuo
  Investcorp                          Kekst and Company
  212-599-4700                        212-521-4800