ST. LOUIS--(BUSINESS WIRE)--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 2nd, 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.
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.