MRP Capital’s REIT Acquires Small-Town Retail Portfolio for $117M
St. Louis-based MRP Capital Group said Thursday that its non-listed REIT has acquired a $117-million portfolio of 27 Walmart-anchored shopping centers. The properties, located in small towns, total more than 842,000 square feet and are located across nine states.
The portfolio was purchased by the MRP Flyover Real Estate Investment Trust, Inc. on May 16, 2022. The REIT has acquired 35 Walmart Shadow Centers, totaling $140 million, since its inception on April 1, 2022.
MRP Capital Group is reportedly the largest owner and operator of Walmart Shadow Centers in small-town America. Its total portfolio contains more than 100 properties spanning 2.6 million square feet across 26 states and valued at close to $350 million.
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).