MRP is a real estate investment firm focused on acquiring dominant retail shopping centers next to high performing Walmart Supercenters in secondary and tertiary markets across the United States.
Our thorough knowledge, experience, and due diligence in acquiring these properties allow MRP to invest in an undervalued asset type in markets overlooked by others. MRP’s properties provide our investors the opportunity to own real estate consisting of low rents, high sales, dominant positioning, and significant reserves to perform during both weak and strong economic environments.
MRP Operations Overview
We have learned through experience that the only way to run the Walmart-Anchored Shadow Center asset class to its full potential is to bring all operations in house. Over the last 5 years, the team has created impressive efficiencies and worked hard to build departments that are capable of growing and supporting a large portfolio.
Today, MRP consists of teams that handle every aspect of managing these assets: sales & leasing, acquisitions, accounting, asset management and property & construction management.
MRP Full-Cycle Track Record
Net Leased Investment
From 2010-2014, MRP built a portfolio of over $37 million worth of single tenant and net lease retail properties in thediscount dollar store space. This strategy produced an average internal rate of return of 18.07% against projections of primarily 7%-8%.
Walmart Shadow Centers
MRP began purchasing Walmart anchored shadow centers in 2015. Under this strategy, we acquired a total of 29 properties, raising over $30 million in equity from investors, with a portfolio value of over $100 million. MRP has successfully exited four Walmart Shadow Centers.
These exits consisted of one stabilized, one core-plus, and two value-add properties. These returns help us to showcase our ability to execute on our strategy. In all, the Manager’s track record has always revolved around recession resistant retail in smaller markets nationally.