RCG Ventures Announces First Close of $1.8 Billion Multi-Tenant Retail Portfolio Acquisition From Global Net Lease With Backing From Ares Management, Koch Real Estate Investments and Other Institutional Equity Partners

Rhea-AI Summary

RCG Ventures has announced the first close of a major portfolio acquisition from Global Net Lease (GNL), totaling approximately $1.1 billion and comprising 59 properties. This represents the first phase of a larger $1.8 billion multi-tenant retail portfolio transaction.

The deal is backed by significant institutional investors including Ares Management Alternative Credit funds, Koch Real Estate Investments, and Goldman Sachs Alternatives. The transaction includes a new loan facility with Truist and Key Bank.

The remaining portion of the GNL portfolio, consisting of 41 properties, is expected to close in two stages by the end of Q2 2025, subject to loan assumptions approval and other closing conditions. This transformative acquisition more than doubles RCG's footprint of shopping centers across the U.S., bringing their total deployment to approximately $2.7 billion across over 250 properties in more than 30 states.

Positive

• Significant portfolio expansion with $1.1 billion first close acquisition
• Strong institutional backing from major investors
• Transaction doubles RCG's retail footprint across the U.S.
• Secured new loan facility with major banks

Negative

• Remaining closure of 41 properties contingent on loan assumptions approval
• Large debt financing required for the acquisition

Transformative Transaction Significantly Expands RCG's Portfolio, Positioning the Firm as a Leading Institutional Owner-Operator of Retail Shopping Centers Across the U.S.

ATLANTA, March 26, 2025 /PRNewswire/ -- RCG Ventures, LLC ("RCG" or the "Firm"), the vertically-integrated retail real estate investment arm of Argonne Capital Group ("Argonne Capital") that specializes in the acquisition, development, leasing, management and financing of multi-tenant real estate assets, today announced the approximately $1.1 billion first close of its acquisition of a multi-tenant retail portfolio (the "Portfolio") from Global Net Lease, Inc. ("GNL"). The transaction included a new loan facility with Truist and Key Bank and equity investments from multiple institutional investors including Ares Management Alternative Credit funds, Koch Real Estate Investments and Goldman Sachs Alternatives. 

For more than 20 years, RCG has invested in multi-tenant retail, focusing on shopping centers anchored by national tenants in high-growth markets. Inclusive of the announced close, the Firm has deployed approximately $2.7 billion, acquiring over 250 properties across more than 30 states. With strong in-house investment, property management, leasing and construction teams, RCG takes a differentiated approach to retail investment and management – leveraging direct relationships with retailers and brokers to maximize the long-term value of its assets.

"As longtime, dedicated multi-tenant real estate investors, we have deep conviction in retail as an asset class," said Michael Klump, Founder and Chairman of RCG Ventures and Argonne Capital. "We are thrilled to have the support of such an established group of partners to further scale our platform. This transformative transaction more than doubles our footprint of shopping centers across the U.S., and we look forward to leveraging our vertically-integrated team to attract and retain high-quality tenants and deliver value for our partners, investors and communities in which we operate."

The first close totals 59 properties and approximately $1.1 billion in purchase price. The remainder of the GNL portfolio comprises 41 properties and is expected to close in two stages by the end of the second quarter of 2025, pending approval of two separate loan assumptions and other customary closing conditions.

"I believe this investment represents a differentiated opportunity to capitalize at scale on a high-quality, diversified retail real estate portfolio underpinned by strong market fundamentals," said Joel Holsinger, Partner, Portfolio Manager and Co-Head of Alternative Credit at Ares Management. "The RCG team's in-house ability to actively manage, lease and reposition retail real estate properties makes them an ideal partner to create value in these assets. We are thrilled to partner with them on this milestone transaction."

Truist Securities, Inc. served as a financial advisor to RCG Ventures and, along with KeyBank Institutional Real Estate, provided committed financing for the transaction. McGuireWoods LLP provided legal counsel to RCG Ventures in respect to the real estate acquisition and financing matters and King & Spalding LLP provided legal counsel to RCG Ventures in respect of fund formation and transaction-related matters. Gibson Avenue Capital, LLC also served as an advisor to RCG Ventures.

About RCG Ventures

RCG Ventures ("RCG") is a vertically-integrated real estate investment firm led by a team of professionals that specialize in the acquisition, development, leasing, management and financing of multi-tenant retail real estate across the U.S. RCG is the retail real estate investment arm of Argonne Capital Group, a privately held investment firm. Since its inception in 2003, RCG has specialized in the ownership of best-in-class shopping centers anchored by national tenants, having acquired approximately $2.7 billion in retail assets spanning 23 million square feet across more than 30 states. For more information on RCG, please visit: https://rcgventures.com/. 

About Global Net Lease, Inc.

Global Net Lease, Inc. (NYSE: GNL) is a publicly traded internally managed real estate investment trust that focuses on acquiring and managing a global portfolio of income producing net lease assets across the U.S., and Western and Northern Europe. Additional information about GNL can be found on its website at www.globalnetlease.com.

Contacts

For RCG Ventures
Kate Thompson / Madeline Jones
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

For Global Net Lease
Investor Relations
Email: investorrelations@globalnetlease.com
Phone: (332) 265-2020

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SOURCE RCG Ventures, LLC

FAQ

What is the total value of RCG Ventures' acquisition from Global Net Lease (GNL)?

The total portfolio acquisition is valued at $1.8 billion, with the first close comprising $1.1 billion for 59 properties.

When will the remaining GNL portfolio properties close?

The remaining 41 properties are expected to close in two stages by the end of Q2 2025, pending loan assumptions approval.

Who are the major institutional investors backing RCG's acquisition of GNL properties?

The acquisition is backed by Ares Management Alternative Credit funds, Koch Real Estate Investments, Goldman Sachs Alternatives, with loan facility from Truist and Key Bank.

How many properties does RCG Ventures now own across the United States?

RCG has acquired over 250 properties across more than 30 states, with total deployments of approximately $2.7 billion.