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Posted: September 23, 2013
RCG Ventures closes RCG Ventures Fund III
RCG Ventures has closed 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 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 U.S. 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."
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