RCG Ventures, LLC has closed its $1.8 billion acquisition of a 99-property retail portfolio from Global Net Lease, Inc.
The deal was first publicly revealed in March by GNL, which aimed to bolster its balance sheet from the sale. Ares Management, Koch Real Estate Investments, among other institutional firms, backed the transaction.
The multi-tenant portfolio is located in 28 states and takes up more than 14 million square feet. The deal expands RCG's total retail footprint to more than 130 assets in the U.S.
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The Atlanta-based firm said that it will continue focusing on investing in shopping centers in high-growth markets that are anchored by top national brands.
"This transaction expands our portfolio of shopping centers across the U.S., and further underscores our strong conviction in the resilience and long-term potential of multi-tenant retail," Michael A. Klump, founder and chairman of RCG Ventures and Argonne Capital, said in a statement.
"By combining the expertise of our in-house property management and leasing teams with our decades of retail investing experience, we are confident in our ability to successfully execute our strategy for these well-located properties."
For retail as a whole, grocery-anchored properties are standing out right now to investors, as highlighted in a recent Trepp report. Over $1.7 billion in grocery-anchored loans were securitized over the last three quarters, the strongest performance since early 2022, as investors prioritize centers with national brands.
The portfolio purchase marks RCG's 282nd property transaction for a volume total of $3.4 billion since 2003. Also, that covers 34 states and 36.2 million square feet.
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Anthony Russo
Anthony Russo has been contributing to GlobeSt. since July 2024. Along with CRE, his financial background expands to capital markets, the economy, and consumer issues. Previously, he has written for CapitalWatch and was a senior reporter for The US Sun.
