facebook
Traded Co logo
Submit
Daily limit: 0/10

Michael Klump Of RCG Ventures Holdings LLC Acquires Retail Portfolio From Michael Weil For $1.8B

Property Image
SOLD
$1,800,000,000

National

See Similar Deals
Retail14,700,000 SF
Sold 02/27/2025
the dealplayerscompscontact
Property Image
SOLD

Michael Klump Of RCG Ventures Holdings LLC Acquires Retail Portfolio From Michael Weil For $1.8B

Retail14,700,000 SF
Sold 02/27/2025
the dealplayerscompscontact
Contact now

Summary

Asset Type:Retail
Price Per Square Foot:$122
Total Square Footage:14,700,000 SF
Transaction Type:Sale

The transaction involves a retail portfolio consisting of 100 non-core retail properties, located across the Northeast, Mid-Atlantic, Southeast, Midwest, Southwest, Texas, and Nevada. The total sale price for the portfolio is $1,800,000,000, with a total square footage of 14,700,000, resulting in a price per square foot of $122.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $1,800,000,000
  • Buyer: Michael Klump - RCG Ventures Holdings LLC
  • Seller: Michael Weil - Global Net Lease Inc.
  • Debt Assumed by Buyer: $470,000,000
  • Transaction Date: 02/27/2025

Michael Klump, representing RCG Ventures Holdings LLC, acquired the retail portfolio from Michael Weil, representing Global Net Lease Inc. RCG Ventures plans to utilize the proceeds from this transaction to reduce leverage, enhance liquidity, and concentrate on single-tenant net lease assets.

Players

RCG Ventures
RCG Ventures
BUYER
MW
Michael Weil
5 deals$2.1B volume
SELLER

Details

SOLD
IMAGE: - UNDER CONTRACT IMAGE: Michael Klump & Michael Weil DATE: 02/27/2025 ADDRESS: Retail Portfolio MARKET: Northeast, Mid-Atlantic, Southeast, Midwest & Southwest, Texas & Nevada ASSET TYPE: Retail BUYER: Michael Klump - RCG Ventures Holdings LLC SELLER: Michael Weil - Global Net Lease Inc. SALE PRICE: $1,800,000,000 SF: 14,700,000 ~ PPSF: $122 NOTE: Global Net Lease agreed to sell 100 non-core retail properties to RCG Ventures for $1.8B, with RCG assuming $470M in debt and paying the rest in cash. The New York-based REIT plans to use the proceeds to reduce leverage, boost liquidity, and focus on single-tenant net lease assets.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$96,000,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,395,019.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,532,918.32
Annual Debt Service$102,395,019.81