{"id":1004762454,"date":"2025-06-24T05:02:55","date_gmt":"2025-06-24T13:02:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004762454"},"modified":"2025-06-24T06:18:08","modified_gmt":"2025-06-24T14:18:08","slug":"rcg-ventures-finalizes-1-8b-retail-portfolio-acquisition","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-finalizes-1-8b-retail-portfolio-acquisition\/","title":{"rendered":"RCG Ventures Wraps $1.8B Retail Portfolio Deal"},"content":{"rendered":"\n<p>RCG Ventures LLC has completed the acquisition of a $1.8 billion multi-tenant retail portfolio from Global Net Lease Inc. The three-phase transaction included 99 properties across 28 states, totaling more than 14 million square feet.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/The-Plant-e1724929385175.jpg\" target=\"_blank\" rel=\" noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004727123\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bay-area-retail-center-commands-95m\/the-plant-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/The-Plant-e1724929385175.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The Plant\" data-image-description=\"&lt;p&gt;The Plant is located within one of Silicon Valley&#8217;s vibrant communities. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The Plant is located within one of Silicon Valley&#8217;s vibrant communities. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/The-Plant-e1724929385175.jpg?w=1000\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/The-Plant-e1724929385175.jpg\" alt=\"Exterior shot of The Plant Shopping Center\" class=\"wp-image-1004727123\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/The-Plant-e1724929385175.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/The-Plant-e1724929385175.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/The-Plant-e1724929385175.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption class=\"wp-element-caption\">Last year,&nbsp;GNL also sold The Plant, a 367,000-square-foot super-regional retail center in San Jose, Calif., to a partnership between Arc Capital Partners and Milan Capital Management for $95 million. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The acquisition was initiated with <a href=\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-strikes-1-8b-portfolio-deal\/\">a first closing<\/a> earlier this year, backed by equity investments from institutional partners including Ares Management, Koch Real Estate Investments and Goldman Sachs Alternatives. This phase provided the financial foundation for the overall acquisition.<\/p>\n\n\n\n<p>The final phases of the sale involved 12 encumbered properties and generated approximately $313 million in gross proceeds, bringing the total to $1.8 billion. GNL plans to use the proceeds to reduce leverage by paying down its revolving credit facility. As it exits the multi-tenant <a href=\"https:\/\/www.commercialsearch.com\/news\/retail-market-trends\/\">retail market<\/a>, the company will only focus on single-tenant net lease assets\u2014a strategy expected to reduce annual G&amp;A expenses by about $6.5 million and lower capital expenditures.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/retails-resilience-draws-private-capital-back\/\">Retail\u2019s Resilience Draws Private Capital Back<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Truist Securities Inc. served as RCG Ventures\u2019 financial advisor, while KeyBank Institutional Real Estate provided committed financing. McGuireWoods LLP and King &amp; Spalding LLP provided legal counsel to RCG, with Gibson Avenue Capital LLC also serving as an advisor. BofA Securities acted as GNL\u2019s exclusive financial advisor on the sale, with BMO Capital also holding an advisory role. Paul, Weiss, Rifkind, Wharton &amp; Garrison LLP was the legal counsel.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-closer-look-at-a-1-8-billion-portfolio\">A closer look at a $1.8 billion portfolio<\/h2>\n\n\n\n<p>The portfolio includes a mix of power centers, grocery-anchored centers and other retail properties, with a tenant roster led by PetSmart, Dick\u2019s Sporting Goods, Kohl\u2019s, Best Buy and Michael\u2019s. The assets are spread across the Northeast, Mid-Atlantic, Southeast, Midwest and Southwest, extending as far west as Nevada.<\/p>\n\n\n\n<p>Notable properties include Fountain Square in Brookfield, Wis.\u2014a 166,346-square-foot center home to Michael\u2019s, PetSmart and Golf Galaxy\u2014and Centrum Shopping Center in Pineville, N.C., which spans 122,256 square feet and includes tenants such as Home Depot, Best Buy and Super G Mart.<\/p>\n\n\n\n<p>Just a few months ago, RCG also acquired <a href=\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-buys-cincinnati-retail-center\/\">The Streets of West Chester<\/a>, a 237,000-square-foot shopping center near Cincinnati. AR Global sold the property for $21.3 million or $90.23 per square foot.<\/p>\n\n\n\n<p>With the completion of its latest acquisition, RCG\u2019s retail portfolio now totals more than 130 properties nationwide.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The transaction includes 99 properties across 28 states.<\/p>\n","protected":false},"author":3014,"featured_media":1004727123,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,23891,21742,21749],"tags":[36796,38545],"class_list":["post-1004762454","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-national","category-latest","category-retail","tag-global-net-lease","tag-rcg-ventures-llc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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