Shopping Center Business is the leading monthly business magazine for the retail real estate industry.
Issue link: http://shoppingcenterbusiness.epubxp.com/i/817746
RCG VENTURES 124 • SHOPPING CENTER BUSINESS • May 2017 forward. Today, RCG has 80 employees and has leasing, property management, construction management, accounting, due diligence, legal and finance in-house. The company has nearly 100 properties under ownership, comprising 11 million square feet with a market value of over $1.25 billion. FUND FOCUSED RCG looks for underserved opportu- nities in strong secondary and tertiary markets with solid employment bases, universities or state government offic- es. The company's series of investment funds hold similar assets, but have all been launched at different times since the mid-2000s. The company is currently acquiring for its Fund IV, which expects to acquire approximately $200 million to $250 million of assets. The company has deployed about 55 percent of the fund's equity and expects the remainder will be spent by the end of 2017. Among recent acquisitions for Fund IV are Valley Park Center, anchored by TJ Maxx, Belk, JC Penney, Ross Dress For Less and Petsmart in Russellville, Arkansas; Turner Hill Marketplace, a Toys "R" Us and Bed Bath & Beyond-an- chored center in Lithonia, Georgia; Oak Brook Square, a TJ Maxx, Hobby Lobby and Dollar Tree-anchored center in Flint, Michigan; and 240 Penn Park, anchored by Michaels, Old Navy, Ross Dress for Less, Marshall's, Petsmart and Best Buy RCG owns Shops on the Circle in Dothan, Alabama. The 180,963-square-foot center is anchored by TJ Maxx, PetSmart, Old Navy, OfficeMax and Big Lots.