New York & Tri-State + Net Lease | March 5, 2021

RPT Realty Forms Platform to Acquire Net Lease Retail

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.”

Connect

Inside The Story

Connect With RPT

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).

Order Reprints