H
RP Group has announced that it has split from Hilco Global and will now operate as an independent real‑estate redevelopment firm. The company, which manages $2.6 billion in assets and oversees more than 23 million square feet across 2,300 acres in eight major U.S. markets, is converting Alexandria’s former Potomac River Generating Station into a mixed‑use development. This project joins HRP’s portfolio of brownfield transformations, which includes Baltimore’s Tradepoint Atlantic logistics hub and Philadelphia’s Bellwether District innovation campus.
The power plant shut down in 2012, and HRP has been navigating city approval processes for the redevelopment. In 2023, the Alexandria City Council approved the company’s sustainability strategy. “This spin‑out is the next step in HRP’s evolution and will allow us to continue our transformational work at an even greater scale,” said co‑founder and CEO Roberto Perez. “We are seeing more opportunities than ever that align with our mission and track record of reimagining and repurposing strategic real estate for the future.”
HRP plans to launch its first value‑add investment fund in late 2025. Founded in 2011, the firm specializes in turning obsolete industrial sites into logistics infrastructure, mixed‑use developments, and innovation hubs. The spin‑out completes a strategic plan first announced in June 2024. Hilco Global’s founding chairman and CEO Jeffrey B. Hecktman will retain an interest in HRP through the Hecktman Family Office after the separation. HRP is headquartered in Northbrook, Illinois.
