Track Record

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Investing in What Communities Need, Delivering What Investors Want.

Our track record in necessity-based commercial real estate reflects strategic acquisitions, expert management, and successful dispositions in thriving markets, highlighting our focus on delivering lasting value for investors.
FNRP By The Numbers​

$2B+

Assets Under
Management

12M+

GLA Under
Management

26

States

65+

Owned Assets

$135M+

Total Investor
Distributions
Since Inception

3000+

Investors
All amounts are as of 3/14/2025.
Securities are only available to verified accredited investors who can bear the loss of their investment. Please contact FNRP for an explanation of how such numbers are calculated. Past performance may not be indicative of future results. An investment in real estate is speculative and subject to risk and as such there cannot be any assurance, promise or guarantee as to the final results of any specific investment or investment strategy into securities offered by FNRP or that such investment will achieve specific investment goals.
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Acquisitions
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Investment Activity Since 2023
10
Properties Acquired
$229,455,000
Total Purchase Price
$135M
Total Equity Raised
5.4%
Period to Date Actual Cash-on-Cash Return
5.3%
Period to Date Average Marketed Cash-on-Cash Return
91.8%
Average Current Occupancy
The information contained herein covers the period of 2023 to 2025, is for informational purposes only and is not intended to provide legal, accounting, tax, investment, financial or other advice and should not be relied upon as such. Before making any investment decision, it is recommended that you seek advice from a qualified advisor. An investment in commercial real estate, particularly through a private placement, is speculative and involves a high degree of risk, including the risk that all of your investment may be lost. Certain financial information shown above, including cash on cash returns and other such statistical information, is historical and past performance is no assurance or indicator of future returns or future performance. Cash on cash returns, occupancy, and other financial performance metrics will fluctuate. Such financial information is blended across our investments during the relevant time period, and may not reflect commissions, transaction costs or such other fees and expenses which may have been applicable, or income taxes payable by any investor, which would have the effect of reducing historical returns. Actual cash-on-cash returns are calculated by annual cash flow return on invested equity over the projected hold period. Please contact FNRP for further detail and explanation on how such numbers were calculated.

The information displayed here was last updated on 03/14/2025.

Select Dispositions*

  • Ashland, Virginia
  • Grocery-Anchored Shopping Center

Ashland Hanover Shopping Center

  • Purchase Price: $17,750,000
  • Exit Price: $22,500,000
  • Net IRR: 6%1 IRRs are net to the investors after fees.
  • Equity Multiple: 1.2x2
  • Grocery-Anchored Shopping Center
  • Sun Prairie, WI
  • Single Tenant Grocer

Single Tenant Pick n’Save

  • Purchase Price: $13,000,000
  • Exit Price: $17,075,000
  • Net IRR: 45.0%1 IRRs are net to the investors after fees.
  • Equity Multiple: 1.41x2
  • Single-Tenant Freestanding Grocer
  • Old Bridge, NJ
  • Industrial/ Flex Park

Colony Business Park

  • Purchase Price: $8,250,000
  • Exit Price: $11,350,000
  • Net IRR: 13.9%1 IRRs are net to the investors after fees.
  • Equity Multiple: 1.71x2
  • Value-Add Flex Office Space
  • Mays Landing, NJ
  • Retail Strip Center

Lenape Plaza

  • Purchase Price: $2,375,000
  • Exit Price: $4,118,066
  • Net IRR: 13.5%1 IRRs are net to the investors after fees.
  • Equity Multiple: 1.31x2
  • Core-Plus Deal
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*Past performance may not be indicative of future results. An investment in real estate is speculative and subject to risk and as such there can be neither any assurance as to the final results of any such specific investment nor can there be any assurance that any investment strategy into securities offered by FNRP will achieve specific investment goals. Each fund managed by FNRP has had specific results to date and we do not value the underlying assets in these funds during time of ownership but can provide other performance results upon request. Investors should note that the properties above are select properties with select results, and FNRP has had other funds and properties with varying results and performance. Please contact FNRP if you wish to obtain an explanation on how such results were calculated or if you wish to obtain information on other investments. Securities are only available to verified accredited investors who can bear the loss of their investment.

Actively Managed Investments

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Executive Experience
Jared Feldman
Executive Chairman
Andrew DeNardo
President - Head of Investor Relations
Kurt Padavano
Chief Operating Officer
Bill Comeau
Chief Financial Officer
Fred Battisti
Chief Revenue Officer
Michael Hazinski
Chief Investment Officer
Every investment in our portfolio represents the skill, dedication, and strategic insight of our highly experienced team. At FNRP, our seasoned professionals bring decades of industry knowledge to the table, analyzing every aspect of a transaction to identify and secure the highest-quality commercial real estate assets. From due diligence to deal structuring, we harness extensive resources and a deep network of industry relationships, ensuring that each transaction meets our rigorous standards of excellence and delivers enduring value to our investors. 
141M
SF of Deals Worked On
177
Years of Combined Experience
$30B+
Transaction Experience

What Our Investors Are Saying3

"I trust their process because of their stability and the returns they provide. This is the best business model out there right now."
Vasco GFNRP Investor
"At FNRP, there's not a day that doesn't go by that I don't feel confident I can get in contact with anyone in the company."
Dennis CFNRP Investor
"With FNRP it really feels like they are looking out to just provide you the information so that you can make informed decisions."
Avinash SFNRP Investor
"Very smooth process investing with FNRP. Everyone was helpful and courteous. I’ll be on the lookout for future deals to enhance my portfolio."
Steven WFNRP Investor
"My experience as a first time investor with FNRP has been very positive, and I look forward to a long and profitable relationship with them."
Sharon FFNRP Investor
"This was my first syndicated investment and even as a 1031, their team was responsive and helpful throughout the process. Great choice for passive investments!"
John MFNRP Investor
"Been doing business with them for 8 deals over the last 12 months. They deliver results and are very transparent with the partners. Ready to do another deal."
Bill CFNRP Investor
"FNRP has been most professional in our interaction. It is a well run company with interesting investment proposals, well researched and good track record."
Karina BFNRP Investor
"Sign up process was smooth and hassle free. Now to sit back and see how their projects create income and opportunities."
Terry MFNRP Investor
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  1. Net IRR is defined as the annualized, compound rate of return using equity contributions and distributions as they occurred on specific dates during the investment period. Net IRR is reflective of all fees charged and paid to First National Realty Partners LLC and its affiliates and subsidiaries.
  2. Equity Multiple: the total distributions and remittances to equity investors divided by the total equity contributions from investors during the investment period. Equity Multiple is reflective of all fees charged and paid to First National Realty Partners, LLC and its affiliates and subsidiaries.
  3. The testimonials provided herein are from FNRP investors. Prospective investors are cautioned as to any inherent conflict of interest which may exist between the investors and FNRP as a result of this relationship. Further, their representations provided may not be representative of the experience of other investors. Any testimonials provided are not a guarantee of future success.
Securities are only available to verified accredited investors who can bear the loss of their investment. Cash distributions and any specific returns are not guaranteed. An investment in commercial real estate is subject to risk, including the risk that all of your investment may be lost. Any representations concerning investing in commercial real estate, including, without limitation, any representations as to stability, diversification, security, resistance to inflation and any other representations as to the merits of investing in commercial real estate reflect our belief concerning the representations and may or may not come to be realized. The ability to make distributions or the amount of distributions may be affected by factors such as debt and lender restrictions, future capital expenditure needs, and financial performance of the property.
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CORPORATE HEADQUARTERS

151 Bodman Place, Suite 201
Red Bank, NJ 07701

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NOTICE: An investment in commercial real estate is subject to risk, including the risk that all of your investment may be lost. Any representations concerning investing in commercial real estate; to include representations as to stability, diversification, security, resistance to inflation and any other representations as to the merits of investing in commercial real estate reflect our belief concerning the representations and may or may not come to be realized. *Cash distributions are not guaranteed. Any offer of a security may be made to accredited investors only pursuant to Rule 506(c) of the U.S. Securities Act of 1933, as amended (the “Act”), by an authorized representative by delivery of a complete copy of an offering memorandum including all exhibits. By using this website, accessing any material contained on this website, registering, requesting a password, or by clicking a “submit” button or the like, I hereby acknowledge, agree and warrant, under penalty of law, that (1) I am an “accredited investor” as defined by Rule 501(a) of the Act; (2) I can provide the required documentation to establish my status as an accredited investor and (2) my typed name on the electronic registration form, if submitted, is my electronic signature and is the legally binding equivalent to my manual handwritten signature.

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Jared Feldman

Executive Chairman
As Executive Chairman, Jared is focused on implementing initiatives that support FNRP’s long-term growth and strategic vision. Before joining FNRP, Jared invested across the credit and equity spectrum, focusing on real estate-rich retail, restaurant, homebuilders, and REITs in both distressed and performing companies. He also advised several large private and public real estate operators on prospective investments in well-located corporate and retail-related assets. He has also deployed in excess of $100M of equity capital for multi-billion-dollar investment fund platforms through his role as a co-manager and head of research. Jared has an MBA from Columbia University, a JD from Hofstra University School of Law, and a B.S. from New York University’s Stern School of Business. He is admitted to the New York State Bar.

Andrew DeNardo

President - Head of Investor Relations
Andrew serves as the firm’s President and Head of Investor Relations. He leads FNRP’s IR Team, focusing on the firm’s strategic capital-raising efforts and growing the private equity side of the business. He joined FNRP soon after it was formed in 2016 and has been a crucial part of FNRP’s growth since. Prior to FNRP, Andrew worked in commercial property management and business development. He brought this experience to FNRP where he spearheaded the development of property management and accounting functions, as well as other general operations. Andrew then developed the company’s original procedures and implemented many software platforms to support the company’s operations. Andrew now guides the executive leadership in strategy and execution, driving company scalability and efficiency through FNRP’s unique operating system. Andrew graduated from Montclair State University with a bachelor’s degree in Political Science.

Kurt Padavano

Chief Operating Officer
With over 30 years of commercial real estate experience, Kurt provides essential leadership in asset and property management, due diligence, insurance and risk management, asset repositioning, human resources, construction management, and environmental matters. Kurt’s experience includes all commercial real estate asset classes and investment platforms ranging from family offices to institutional joint ventures. He holds many industry designations including CPM, RPA, FMA, and SMA, and is a licensed real estate salesperson in the state of New Jersey. He has also been an adjunct professor and instructor on commercial real estate matters at Harvard University and Columbia University. Kurt holds degrees from Pennsylvania State University and Harvard University.

Bill Comeau​

Chief Financial Officer​
As FNRP’s Chief Financial Officer, Bill oversees the firm’s vast accounting department and spearheads financial reporting and analysis for the executive team and our investors. His efforts also guide the efficient use of the company’s capital. Bill brings our team 20 years of financial experience, including multiple CFO roles at private firms, institutional funds, and nonprofits, including 10+ years as the CFO at DLC Management. In his prior engagement, Bill oversaw a $50M development project. Bill has a MBA from Manhattan College and a BBA from Baruch College. He’s also a registered certified public accountant (CPA) in New York State and has served as an adjunct professor at New York University.

Fred Battisti

Chief Revenue Officer
As FNRP’s Chief Revenue Officer – Head of Leasing, Fred was brought in to oversee the growth and trajectory of the firm’s industry-leading leasing team, while focusing on maintaining and driving property level revenue and growing FNRP’s real estate operations side of the business. Fred brings over 16 years of experience in all commercial real estate industry spaces to FNRP. His skills and focus on tenant relations have led him to complete over 1,000 lease transactions during his career and execute deals with a wide variety of national-brand retailers such as Albertson’s, Dick’s Sporting Goods, TJ Maxx, Lululemon, Whole Foods, Dollar Tree, and many others. Prior to FNRP, Fred founded Brier Hill Advisors in August of 2020, where he worked with both national landlords and super-regional tenants. Fred also served as a regional vice president of leasing at Brookfield Properties Retail where he oversaw one of the largest NOIs in the fleet, a GLA of 5.5MM SF, and a team of high-performing leasing professionals. A native of Youngstown, Ohio, Fred graduated from Ohio State University and shortly began his career leasing super-regional malls for the Cafaro Company. Fred now resides in Atlanta, GA. In his spare time, Fred enjoys spending time with his wife Natalie and their three children.

Michael Hazinski

Chief Investment Officer
Michael serves as FNRP’s Chief Investment Officer, utilizing his extensive background in institutional real estate investments to design and implement strategies to grow FNRP’s portfolio. During his career, Michael has executed over $4 billion in closed transactions encompassing acquisitions, dispositions, debt financing and joint venture equity. Before joining FNRP, Michael was Senior Vice President, Director of Investments at Retail Properties of America, Inc. (NYSE: RPAI), where he served for fifteen years until its merger with Kite Realty Group Trust (NYSE: KRG). While at RPAI, Michael directed the asset management of institutional joint venture portfolios, before leading national acquisitions and dispositions for the company. Prior to RPAI, Michael worked as an asset manager for a portfolio of closed-end funds invested in retail and multifamily assets. Michael received his B.S. in Finance from the University of Dayton and an M.B.A. in Finance and Economics from the University of Chicago Booth School of Business.
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