RCG Ventures Announces Fund III Closing

News provided by

Aug 20, 2013, 11:19 ET

ATLANTA, Aug. 20, 2013 /PRNewswire/ -- RCG Ventures announces the closing of its third value-add real estate fund. RCG Ventures Fund III (d/b/a RCG Ventures Value-Add Real Estate Fund III) exceeded its $75 million target with a total capital raise in excess of $107 million. Fund III was significantly oversubscribed and achieved these commitments within 90 days of its launch. Fund III, similar to RCG's previous two funds, will invest in value-add shopping centers throughout the United States. The investor base consists of high net worth individuals and family offices.

Michael McMillen, CEO and Co-founder of RCG Ventures, stated, "We are very pleased with the interest level in our most recent fund which includes many repeat investors, as well as new ones. Although the commercial real estate markets continue to rebound, we continue to expect many opportunities in the value-add retail sector from motivated sellers. Our combination of financial capital, an excellent track record, and an accomplished platform makes us poised to take advantage of these opportunities."

About RCG Ventures
RCG Ventures, an affiliate of Argonne Capital Group, is an Atlanta-based privately funded real estate investment group that: acquires shopping centers, buys distressed debt, and develops commercial real estate in the Continental United States. The company's primary focus is acquiring and repositioning value-add anchored shopping centers in secondary and tertiary markets.

Founded in November of 2003, RCG Ventures has steadily grown its portfolio through direct investment in shopping centers. In addition, the company selectively enters into joint ventures with institutional partners and with owners in search of an equity partner. Since inception, RCG has acquired 85 assets totaling approximately $500 million of Invested Capital. RCG's current portfolio includes approximately 65 assets in 19 states, and over 6.75 million square feet.

Additional information about RCG Ventures can be found at www.rcgventures.com.

Media Contact:
Erin Rabe
404.665.1144
[email protected]

SOURCE RCG Ventures