RCG Ventures Closes Latest Fund Above Target with $515M

RCG Ventures, LLC, the vertically integrated real estate investment arm of Argonne Capital Group specializing in multi-tenant retail real estate assets, said Monday it had closed RCG Ventures Fund VIII above target, with $515 million in capital commitments. The fund attracted strong support from a diverse group of new and existing institutional investors.

“The successful close of Fund VIII is an endorsement of both our strategy and increasing institutional recognition of multi-tenant retail as an attractive investment opportunity,” said Michael Klump, founder and chairman of RCG and Argonne. “We believe our deep track-record and operating experience, vertically-integrated platform and longstanding relationships position us to identify and execute on compelling opportunities to deliver value for our investors.”

The final close builds on recent momentum across RCG’s platform, including its previously announced acquisition of a $1.7-billion multi-tenant retail portfolio from Global Net Lease, Inc., a transaction that more than doubled RCG’s multi-tenant retail footprint. To date, Fund VIII has completed nine acquisitions in key markets across the U.S. and is under contract on an additional five investments.

Pictured: Holiday Centre in Monroeville, PA, a recent RCG acquisition.