Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Chicago & Midwest  + Midwest  + Retail  | 

MRP Capital Closes $105M Fund for Walmart-Anchored Shadow Centers

St. Louis-based MRP Capital Group has closed MRP Flyover Fund, LLC, its first traditional fund. The fund launched in September 2020 and closed on July 2, having. acquired 42 properties, totaling 950,000 square feet, across 23 states. The total acquisition value was $105 million.

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 past six-plus years,” said Joe McClary, CEO & partner. 

MRP Capital Group reportedly is now the largest owner of Walmart-anchored shadow centers in small-town America with 64 centers owned and managed across the country. The company plans to institutionalize the asset class through scale and operations over the next several years.

Connect

Inside The Story

MRP

About Paul Bubny

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. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition