MRP Capital Group is a St. Louis-based private equity real estate firm that acquires and operates Walmart-anchored shopping centers in small-town America. The company has positioned itself as the owner of Walmart Shadow Centers, which are retail properties located adjacent to Walmart stores in communities that function as regional hubs across rural America. The firm's investment strategy centers on consolidating multi-tenant shopping centers in small markets where Walmart serves as the primary anchor tenant and traffic driver. Founded by Joe McClary and Jordan Breck, the company purchased its first Walmart Shadow Center in Waynesboro, Mississippi in October 2015. In September 2020, MRP launched its first fund, and in January 2021, the firm rebranded to MRP Capital Group. Between March and July 2021, the company acquired a portfolio of 36 Walmart Shadow Centers. In April 2022, MRP launched the MRP Flyover Real Estate Investment Trust, a non-listed REIT vehicle. By May 2022, the REIT had acquired 35 Walmart Shadow Centers totaling $140 million since inception, including a $117 million portfolio of 27 properties comprising 842,000 square feet across nine states. The firm's portfolio consists of open-air centers featuring drive-through options and daily-needs tenants that cater to essential services. MRP operates through both direct ownership and its REIT structure, with properties spread across 26 states. The company has built a vertically integrated team to manage and scale its Walmart Shadow Center strategy, providing services across acquisition, leasing, asset management, and property operations.