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Press release content from Business Wire. The AP news staff was not involved in its creation.

MRP Capital Group Closes MRP Flyover Fund, LLC with $105 Million in Total Assets

July 6, 2021 GMT
Walmart-anchored Shopping Center | Valley View Plaza | Marion, IN (Photo: Business Wire)
Walmart-anchored Shopping Center | Valley View Plaza | Marion, IN (Photo: Business Wire)

ST. LOUIS--(BUSINESS WIRE)--Jul 6, 2021--

MRP Capital Group announces the close of MRP Flyover Fund, LLC – the company’s first traditional fund. The fund launched in September 2020 and closed on July 2 nd, 2021. It was fully committed and deployed at that time. The fund acquired 42 properties, totaling 950,000 square feet, across 23 states. The total acquisition value was $105 million.

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Walmart-anchored Shopping Center | Valley View Plaza | Marion, IN (Photo: Business Wire)

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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 last six-plus years,” said Joe McClary, CEO & Partner. “We’re most proud that we’ve been able to do so in the middle of the COVID-19 pandemic alongside our longtime investors and new relationships.”

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

MRP Capital Group is a St. Louis-based private equity real estate firm dedicated to professionalizing the shopping experience in small-town America by consolidating the Walmart-anchored shopping center asset class. MRP Capital Group’s current Walmart Shadow Center portfolio is comprised of over 1.7 million square feet, 64 properties across 24 states. To learn more about the company’s strategy, visit www.mrpstl.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210706005732/en/

CONTACT: Elaina Denning | MRP Capital Group

Director of Strategic Operations

elaina@mrpstl.com

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KEYWORD: UNITED STATES NORTH AMERICA MISSOURI

INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES OTHER CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE FINANCE CONSTRUCTION & PROPERTY

SOURCE: MRP Capital Group

Copyright Business Wire 2021.

PUB: 07/06/2021 03:00 PM/DISC: 07/06/2021 03:01 PM

http://www.businesswire.com/news/home/20210706005732/en