First National Realty Partners Reports Strong First Half Results

RED BANK, New Jersey, August 15, 2024 /PRNewswire/ — First National Realty Partners (FNRP), a leading national commercial real estate private equity firm, announced solid results for the first half of 2024 despite economic headwinds.

FNRP achieved profitability with lower transaction volumes, underlining its operational efficiency. The company acquired $72.8 million in real estate, exceeding its target. Key acquisitions included Elements Horsham Shopping Centre (PA), Sumter Square (South Carolina)Horizon Village (AZ), Townes Crossing (IL), and Fountain Hills Plaza (AZ) – All but one were purchased off-market, helping to expand FNRP into new states.

“In a competitive market, our ability to identify opportunities outside the market and secure favorable financing terms is a testament to our industry relationships and expertise,” he said. Mike HazinskiInvestment Director at FNRP.

FNRP strategically divested from Penn Hills Shopping Center in Pittsburgh, Pennsylvaniawhile maintaining a portfolio of 12.4 million square feet.

The company’s proactive leasing efforts have led to significant accomplishments, including deals that expanded relationships with national tenants including Five Below and Hibbett Sports. FNRP has leased 248,501 square feet since the beginning of the year.

“We remain optimistic about the long-term fundamentals of the retail real estate market,” he said. Fred BattistiChief Revenue Officer at FNRP. “Despite macroeconomic challenges, we remain focused on finding opportunities and increasing value for our investors.”

In the second half of 2024, FNRP will prioritize portfolio optimization, strategic portfolio sales and/or refinancing, while continuing to pursue growth through acquisitions.

“We are proud of the strategic direction our company has taken,” he said. Andrew DeNardoPresident and Head of IR at FNRP. “We are prepared for thoughtful growth and lasting success.”

FNRP provides accredited investors with access to institutional-quality commercial real estate, specializing in need-based properties nationwide: retail, multifamily and industrial, food-based. From acquisition to disposition, FNRP oversees the entire investment lifecycle through its internal, vertically integrated platform, leveraging top talent in legal, acquisitions, leasing and other key areas. For more information, visit www.fnrpusa.com.

Disclaimer: Investing in commercial real estate involves risk, including the risk of losing your entire investment. Any statements regarding investing in commercial real estate, including, without limitation, statements regarding stability, diversification, security, resistance to inflation and any other statements regarding the merits of investing in commercial real estate, reflect our beliefs regarding the statements and may or may not be realized. Cash distributions are not guaranteed.

The story continues

Contact:

Jessica DeMarino

[email protected]

View original content to download multimedia: https://www.prnewswire.com/news-releases/first-national-realty-partners-reports-strong-first-half-performance-302223614.html

SOURCE First National Realty Partners, LLC