Shopping Center Business

MAY 2017

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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RCG VENTURES 120 • SHOPPING CENTER BUSINESS • May 2017 R CG Ventures has been on a buy- ing spree the past several years. The company, which acquires val- ue-add centers through a series of oppor- tunity funds, has also expanded its geo- graphic footprint, opening a Los Angeles office to begin acquisitions in the western half of the United States. Shopping Center Business recently met with Brad Garner, chief financial officer and chief investment officer, and Mark Worley, president and chief operat- ing officer, at the company's headquarters in Atlanta, to discuss RCG's growth plans, and its advancing position as a national shopping center owner. OPPORTUNITY DRIVEN RCG has been active in the acquisition of community and power centers since it was launched at the end of 2003. The company acquires through a series of funds, raised through private investors, and invests solely in retail properties. With its shopping center acquisitions, RCG tends to be more focused on the op- portunity rather than a particular market. The company likes properties that drive value for its investors. As it searches for those properties, it gets comfortable with the economies and demographics of the markets after they fully understand the potential opportunity of the asset. As a result, it tends to acquire a lot of proper- ties in secondary and tertiary markets, but has been known to buy in major MSAs as well. In all, RCG has purchased centers in 25 different states and currently owns properties in 22 states. "What sets us apart from most buyers is the ability to buy in a number of mar- kets as well as a wide range of deal sizes," says Garner. "Our sweet spot ranges from properties valued at $7 million to $20 mil- lion but we have acquired individual deals as small as $2.5 million and as large as $50 million. We also acquired a $150 million portfolio from a public REIT in 2015. In addition, RCG has become more active on larger size projects, typically in a joint venture partnership." In 2016, industry veteran Mark Wor- ley joined RCG as president and chief operating officer. Worley was previously president of the Southeast region for Brix- mor, and worked for New Plan Excel and predecessor companies for many years. Buying Opportunity RCG Ventures seeks centers— and markets — with opportunities for growth and expansion. Now, the company is headed west in its search. Randall Shearin Sandy Springs Crossing is a 132,819-square-foot center that RCG Ventures owns in Atlanta. The center is anchored by LA Fitness.

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