First National Realty Partners

Commercial Real Estate Private Equity / Grocery-Anchored Retail Investingfnrpusa.com

First National Realty Partners is a private equity commercial real estate firm that acquires and manages a national portfolio of 65+ grocery-anchored retail shopping centers across 26 states, serving accredited investors seeking institutional-quality CRE exposure.

Company typePrivate
Founded2015
HeadquartersRed Bank, United States
Headcount51–100
GTM typeB2B
OfferingServices

What First National Realty Partners does

First National Realty Partners (FNRP) is a privately held commercial real estate private equity firm founded in 2015 and headquartered in Red Bank, New Jersey. The firm acquires, owns, and operates a national portfolio of 65+ grocery-anchored retail shopping centers across 26 states totaling more than 12 million square feet. Its stated strategy focuses on necessity-based retail anchored by resilient national and regional tenants including Kroger, Food Lion, Marc's, Walmart, Whole Foods, Ross Dress for Less, and Planet Fitness.

FNRP serves accredited investors seeking institutional-quality commercial real estate exposure, providing access to private equity real estate offerings through the JuniperSquare investor portal. The firm operates a vertically integrated platform that encompasses acquisitions, legal, underwriting, leasing, asset management, property management, and an in-house debt capital markets function. It supplements the platform with educational content (Tax Benefits guides, Retail Market Forecast reports) and an investor portal for portfolio tracking and capital deployment. Tenant-facing services include a VersaPay-powered portal for rent payment, maintenance requests, and sales reporting.

The firm generates revenue through management fees, acquisition fees, disposition fees, and carried interest on investor returns. Since 2022, FNRP has closed over $1 billion in acquisitions and, in 2025 alone, executed more than $200 million in capital markets transactions (acquisitions, dispositions, refinancing) and leased 1.5 million square feet. The company markets its offerings through digital content, SEO, social media, email, and industry events such as ICSC, while sourcing deals through direct outreach and broker relationships with firms including Marcus & Millichap and JLL.

First National Realty Partners firmographics

Firmographics

Name: First National Realty Partners
Legal name: First National Realty Partners LLC
Website: https://fnrpusa.com
Company type: Private
Founded year: 2015
Operating status: Operating
Headcount range: 51–100 employees
Short description: First National Realty Partners is a private equity commercial real estate firm that acquires and manages a national portfolio of 65+ grocery-anchored retail shopping centers across 26 states, serving accredited investors seeking institutional-quality CRE exposure.
Ownership category
akta.pro rank

First National Realty Partners industry classification

Industry

Product category: Commercial Real Estate Private Equity / Grocery-Anchored Retail Investing
NAICS: Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Other Financial Investment Activities (5239)
SIC: Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799)
akta.pro primary industry: Real Estate / PropTech Growth Equity (FSANACAH)
akta.pro secondary industry: Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)

Keywords

Grocery-anchored retail
Private equity real estate
Commercial real estate investing
Retail property management
Accredited investor platform

Where First National Realty Partners is headquartered

Location

Headquarters

HQ city: Red Bank
HQ country: United States
HQ region: North America

Offices2 records

Markets served

First National Realty Partners business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

Private Equity Real Estate Management: FNRP raises capital from accredited investors and deploys it into necessity-based grocery-anchored retail properties. The firm generates revenue through management fees, acquisition fees, disposition fees, and carried interest on investor returns. The vertically integrated platform manages the full investment lifecycle from acquisition through disposition.
Capital Markets Transaction Fees: FNRP executes acquisitions, dispositions, and refinancing transactions across its portfolio. In 2025, the firm completed over $200 million in capital markets transactions. Revenue is generated through transaction fees on buy/sell activity and refinancing.

Pricing tiers

Model	Billing	Price
One time/ perpetual license	Multi-year contract	Minimum $5 million transaction size for property acquisitions

Go-to-market motion3 records

Distribution channels4 records

Marketing channels8 records

First National Realty Partners product offering

Product offering

Core offering

First National Realty Partners is a vertically integrated private equity commercial real estate firm that acquires, owns, and operates a national portfolio of 65+ grocery-anchored retail shopping centers across 26 states totaling 12M+ square feet. The firm pools capital from SEC-accredited investors through the JuniperSquare investor portal and deploys it across the full investment lifecycle — sourcing, acquisitions, in-house debt capital markets, leasing, asset management, and disposition — earning revenue through management fees, acquisition/disposition fees, and carried interest on investor returns.

Product overview

First National Realty Partners operates a vertically integrated private equity commercial real estate platform offering three interconnected core offerings: (1) a national portfolio of 65+ grocery-anchored retail shopping centers across 26 states totaling 12M+ square feet, (2) an accredited investor access platform for private equity real estate investments managed via Juniper Square, and (3) a tenant portal for rent collection and property management. The platform is augmented by educational resources including the Tax Benefits Guide, retail market forecast reports, and acquisitions services supporting investors from acquisition through disposition.

Differentiator

Problem solved

Functional benefit

Products and services

Grocery-Anchored Retail Shopping Center Portfolio National private equity real estate portfolio of 65+ grocery-anchored retail shopping centers across 26 states totaling more than 12 million square feet, anchored by necessity-based tenants (Kroger, Marc's, Food Lion, Walmart, Whole Foods, Ross Dress for Less, regional grocers) and offered to SEC-accredited investors.
Acquisitions Services Property acquisition sourcing and brokerage services for sellers of necessity-based retail centers nationwide, with a stated minimum deal size of $5 million per transaction and over $1 billion in acquisitions closed since 2022.
Tenant Portal (VersaPay) Web-based tenant portal (powered by VersaPay) for retail tenants to remit rent, report maintenance issues, update contact and insurance information, and submit monthly sales reporting for portfolio shopping centers.

Quantifiable outcome

Over $1 billion in acquisitions closed since 2022
+5 more outcomes

Companies that use First National Realty Partners

Customer profile

Named customers16 records

Segments1 record

Ideal customer profiles2 records

First National Realty Partners technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Integration2 records

First National Realty Partners partnerships and signals

Strategic signal

Partnerships

Three partnerships are on record, tiered core and minor.

Marcus & Millichap Institutional Property AdvisorscoreChannel Partner/ Reseller/ Distributor · 9 March 2026Marcus & Millichap Institutional Property Advisors served as the exclusive seller's representative in the acquisition of Marc's Grocery Center by FNRP. Erin Patton represented the seller in the transaction. Marcus & Millichap is a major commercial real estate brokerage that facilitates property transactions for institutional clients.
JLL (Jones Lang LaSalle)coreChannel Partner/ Reseller/ Distributor · 30 October 2025JLL represented the undisclosed seller in FNRP's acquisition of Salisbury Marketplace in Salisbury, North Carolina. JLL also represented FNRP as seller in the disposition of City Center Crossing in Sandy Springs, Georgia, arranging the $20.8 million sale to Crosspoint Associates.
Crosspoint AssociatesminorChannel Partner/ Reseller/ Distributor · 25 February 2025Crosspoint Associates purchased City Center Crossing from FNRP for $20.8 million. The transaction included procurement of an acquisition loan for the new owner. JLL Capital Markets arranged the sale on behalf of FNRP.

Scale indicators15 records

Recent moves7 records

Expansion highlights5 records

First National Realty Partners competitors and assessment

Company assessment

Direct peers

Phillips Edison & Company: Public REIT (PECO) exclusively focused on grocery-anchored shopping centers across the US. Operates the same necessity-retail thesis as FNRP and is the closest publicly traded comparable in strategy and target property profile.
RPT Realty: Public REIT specializing in grocery-anchored necessity-based open-air shopping centers. Highly comparable strategy and tenant profile, often cited as a competing acquirer of grocery-anchored retail assets.
Kite Realty Group: Public REIT focused on open-air shopping centers dominated by grocery anchors. Direct strategic competitor for grocery-anchored retail acquisitions and competes for similar tenants and submarkets.
AEW Capital Management: Major institutional real estate investment manager raising capital from private and institutional investors to deploy across CRE strategies. Comparable PE-style real estate fund manager with overlapping investor base.
Brixmor Property Group: Large public REIT owning and operating open-air shopping centers with strong grocery anchors. Shares FNRP's focus on necessity-based retail but operates at substantially larger scale.
Crow Holdings Capital: Diversified private equity real estate platform investing across multiple commercial property types. Comparable as a PE-style real estate investor with similar acquisition-led growth model.

Broad incumbents

Invesco Real Estate: Large diversified global real estate investment manager with retail strategies. Competes indirectly for private capital allocations and operates multiple funds targeting grocery-anchored and necessity retail sub-sectors.
Federal Realty Investment Trust: Established public REIT (FRT) focused on high-quality open-air retail and mixed-use properties. Overlaps with FNRP's grocery-anchored focus but covers a broader range of retail formats and geographies.
Kimco Realty: Large public REIT (KIM) with one of the largest open-air shopping center portfolios in the US. Shares grocery-anchored strategy but operates as institutional incumbent at much greater scale.

Others

Phillips Edison & Company (Non-Traded/Private REIT context): Note that PECO also operates non-traded REIT/interval-fund vehicles raising from HNW accredited investors — directly comparable to FNRP's investor access platform and capital raising model.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

First National Realty Partners compliance and trust

Trust signal

Compliance1 record

First National Realty Partners financial estimates

Financial estimate

Revenue estimate

Valuation estimate

First National Realty Partners leadership team

Management profile

Number of profiles

Profiles11 records

First National Realty Partners funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

First National Realty Partners M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First National Realty Partners

What does First National Realty Partners do?

Is First National Realty Partners a public or private company?

First National Realty Partners is a private company. It is classified as founder individual operated bootstrapped and is currently operating.

When was First National Realty Partners founded?

First National Realty Partners was founded in 2015. It employs 51 to 100 people.

Where is First National Realty Partners based?

First National Realty Partners is headquartered in Red Bank, United States, in the North America region.

How does First National Realty Partners make money?

Two revenue lines are on record. Private Equity Real Estate Management is the primary driver. The others are capital Markets Transaction Fees.

Who are First National Realty Partners's main competitors?

Direct peers on record are Phillips Edison & Company, RPT Realty, Kite Realty Group, AEW Capital Management, Brixmor Property Group and Crow Holdings Capital. Broad incumbents are Invesco Real Estate, Federal Realty Investment Trust and Kimco Realty. Phillips Edison & Company (Non-Traded/Private REIT context) is listed as an others.

Does First National Realty Partners have an API?

No public API is recorded for First National Realty Partners.

What industry is First National Realty Partners in?

First National Realty Partners's product category is Commercial Real Estate Private Equity / Grocery-Anchored Retail Investing. Its primary akta.pro industry code is FSANACAH, Real Estate / PropTech Growth Equity, with a secondary code of FSAAAKAA, Core Real Estate (Stabilized/Core-Plus). Its NAICS code is 523 and its SIC code is 6532.