PREP Property Group (PREP)

PREP is a fully integrated real estate company built on the foundation of the strategic investment and net lease divisions of Phillips Edison & Company. Our focus includes redevelopment and value add projects from single tenant retail to more complex properties including power centers, enclosed malls and mixed use properties. Our mission is to be the industry leader in transforming retail real estate assets. PREP was founded in May of 2015 by Michael C. Phillips, co-founder of Phillips Edison & Company. Within Phillips Edison, the team deployed two strategic funds and one net lease income fund on behalf of friends and family investors. PREP now seeks to grow the net lease and strategic divisions on a separate and more specialized management platform. PREP’s management team focuses specifically on repositioning retail assets in the market, bringing a long history of acquisitions, development, merchandising, leasing and property management experience. PREP understands that the retail landscape is constantly changing; PREP’s specialized and nimble team combines deep knowledge of real estate fundamentals with detailed evaluation of consumer, market, and retail trends. PREP’s Strategic Investments division targets opportunistic and value add retail assets in infill locations throughout the country. The asset classifications include power centers, malls and mixed use properties with a minimum size of 150,000 square feet. The team looks to reposition cash flowing value add investments and distressed assets requiring light or heavy redevelopment. Our highly experienced leasing team with exceptional retailer relationships adds value in countless ways, allowing us to grasp both the potential and pitfalls of retail and mixed-use properties. PREP’s Net Lease division acquires well-located, primarily non-institutional grade, single tenant net leased retail properties throughout the United States. The team aims to acquire a diverse mix of tenant credit, uses, and geographies including auto parts, convenience stores, pharmacies, casual dining, quick service restaurants, banks, junior, mid, and big box retail, dollar stores, and medical uses in active retail markets. Our team benefits from PREP’s fully-integrated operating platform for acquisitions, dispositions, development, redevelopment, leasing and property management. Our focus is to identify sites with strong real estate fundamentals and improve the leases, terms or creditworthiness creating value in the assets and the portfolio.