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

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.