PREP Property Group (PREP) Email Format

Real EstateUtah, United States51-200 Employees

PREP Property Group is a mid-sized real estate firm based in Park City, Utah, focused on retail assets across the United States. It operates as a vertically integrated company that aims to unlock value in under-managed retail properties—such as lifestyle centers, power centers, and enclosed malls—through repositioning, improved merchandising, and tenancy strategies. The firm acquires and manages well-located triple-net retail properties from non-institutional sellers, seeking to add value through lease restructures or tenant upgrades.

Founded by Michael C. Phillips, co-founder of Phillips Edison & Company, PREP builds on a background in retail real estate strategy. Its activity history includes acquisitions of retail assets and related components in various markets, illustrating a focus on repositioning and active asset management.

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