Shopping center REIT RPT Realty has formed a core net lease retail real estate platform with GIC Private Limited, Zimmer Partners and Monarch Alternative Capital LP. The platform will target the acquisition of more than $1.2 billion of strategic assets.
GIC, Zimmer, Monarch and RPT have committed to fund $470 million in the platform over the next three years for approved acquisitions, including the initial investment portfolio that is to be seeded by Midtown Manhattan-based RPT. That seed portfolio, valued at $151 million, contains 42 single-tenant, net lease retail assets.
Brian Harper, president and CEO of RPT, said, “The current market disruption has further highlighted the need to service the entire retail distribution chain without regard to the specific form of distribution. We believe this platform is our first step in recognizing this paradigm shift and should enable us to capitalize on these strategic opportunities.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
Email the Author
Reach over 250,000 Commercial Real Estate Professionals with Connect
Connect CRE reaches the top commercial real estate players nationwide and across all property types, offering you a variety of ways to showcase your team, your expertise and your brand to CRE decision makers.
The home for CRE news and everything you need to stay informed on deals, trends, and transactions, providing a platform to get your brand in front of your target audience.
Daily CRE Emails
Reaching over 150,000 inboxes across the nation every day, Connect’s Daily News emails provide advertising opportunities specific to your market.
Bi-Weekly Property Sector Emails
Focus your advertising on emails dedicated to your property sector and stay visible to current and potential clients.
Position your team as experts in your field with content created by Connect’s editorial team and published on Connect’s news emails. Showcase your intelligence and broaden your reach.