The fund solely acquired retail strip centers directly next to high-performing Walmart Supercenters in small towns across the U.S.
“We are beyond excited to close this fund as we scale an investment strategy that we’ve been solely focused on for the last six-plus years,” said Joe McClary, CEO & Partner. “We’re most proud that we’ve been able to do so in the middle of the COVID-19 pandemic alongside our longtime investors and new relationships.”
MRP Capital Group is now the largest owner of Walmart-anchored shadow centers in small-town America with 64 centers owned and managed across the country. MRP plans to institutionalize the asset class through scale and operations over the next several years.