INVESTCORP/LINCOLN JV PURCHASES 550,000 SF MIXED-USE PROJECT

PRINCETON, N.J. — A joint venture between Investcorp International Realty and Lincoln Equities Group has purchased Princeton Forrestal Village, a 550,000-square-foot mixed-use project located in Princeton. Constructed in 1987 and renovated in 2007, the property comprises 10 freestanding buildings containing a mix of office, retail and restaurant users. A separately owned Westin Hotel and Conference Center is also located on the 42-acre site. The buyers' near-term plans include leasing the vacant space at the center, which will include converting some of the vacant retail space to medical office use. The seller's name and the sale price were not released.