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HomeReal EstateFirst National Realty Partners Closes 2023 with Nearly $200 Million in Acquisitions...

First National Realty Partners Closes 2023 with Nearly $200 Million in Acquisitions & Over 500,000 Square Feet of New Lease Transactions

RED BANK, N.J., Feb. 22, 2024 /PRNewswire/ — First National Realty Partners (“FNRP”), one of the nation’s fastest-growing vertically integrated real estate investment firms, produced impressive acquisition and leasing activity in 2023. FNRP closed on nearly $200M in acquisitions for the year and completed over 500,000 square feet of new leasing transactions.

In 2023, FNRP acquired seven properties, marking its expansion into the multifamily sector, and strengthening its retail portfolio with the addition of over 780,000 square feet.

FNRP increased its presence in the Atlanta MSA to five centers with the closing of an off-market acquisition of a 227,618-square-foot portfolio anchored by Kroger and Publix. The firm enhanced its nationwide footprint with its expansion into Florida and increased exposure in Texas. FNRP also entered Delaware with the acquisition of Christina Crossing in Wilmington, a 119,446-square-foot Shoprite-anchored center.

Following these strategic acquisitions, the company’s current portfolio comprises over 60 properties spanning 24 states.

“Our team demonstrated its creativity and leveraged our platform to selectively grow our portfolio during 2023,” commented Mike Hazinski, chief investment officer.

FNRP surpassed its leasing goal by over 100,000 square feet.

Notable 2023 leases included:

  • Executed a 41,455-square-foot lease that brought the Lowe’s Outlet concept into Houston to help revitalize Champions Village, followed by a lease with Hibbett Sports, its seventh location in the firm’s portfolio
  • Procured and executed key new deals at Eagle Plaza in Voorhees, NJ with Ace Pickleball (22,163 SF), Five Below (11,444 SF), Chase Bank (4,800 SF) and Bath and Body Works (5,384 SF). The team also secured a long-term lease extension with the 66,465-grocery store anchor ACME
  • Secured a 76,000-square-foot lease with Gabe’s at Mark Twain Village in St. Charles, Missouri; the first in FNRP’s portfolio

“We successfully advanced our business plans at many key properties,” said Fred Battisti, chief revenue officer. “Our team did a tremendous job backfilling vacated or underperforming big-box spaces with strong name brand tenants.”

FNRP provides accredited investors with access to institutional quality commercial real estate assets specializing in necessity-based real estate: grocery-anchored retail, multifamily, and industrial and sourcing opportunities both on and off-market nationwide. From acquisition to disposition, FNRP oversees the entire investment lifecycle 100% in-house, leveraging top talent in legal, acquisitions, leasing, and other key areas. For more information, visit www.fnrpusa.com.

Jessica DeMarino

SOURCE First National Realty Partners, LLC

Originally published at https://www.prnewswire.com/news-releases/first-national-realty-partners-closes-2023-with-nearly-200-million-in-acquisitions–over-500-000-square-feet-of-new-lease-transactions-302068811.html
Images courtesy of https://pixabay.com

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