Net Lease Capital Advisors

What Net Lease Capital Advisors does

Net Lease Capital Advisors is a privately held real estate investment and advisory firm founded in 1996 by Douglas F. Blough and Bruce S. MacDonald, headquartered in Nashua, New Hampshire. The firm specializes in single-tenant triple net lease and U.S. Government-occupied (GSA) properties, structuring transactions for corporate and government tenants across healthcare, logistics, banking, retail pharmacy, and federal agencies including the VA and FBI. The firm reports over $17 billion in cumulative transactions closed across 265 properties, with approximately $9.5 billion in assets under management and 2.4 million square feet under active property management.

The firm's revenue is generated through three primary streams: advisory services for 1031 exchanges and partnership restructuring (professional services fees), property acquisitions and dispositions (transaction fees), and distribution of Delaware Statutory Trust (DST) interests (transaction fees and asset management). Pricing is not publicly disclosed but transaction sizes range from $25 million to $750+ million. The firm operates a sales-led go-to-market combining direct sales teams (Managing Directors of Sales, DST Sales Team, Acquisitions Group), broker dealer distribution for DST products, and referral relationships with accounting and law firms. No proprietary technology platform has been disclosed.

The firm serves a concentrated set of client segments including corporate property investors, U.S. government property investors, 1031 exchange participants, high-net-worth individuals and family offices, and institutional investors. Key named relationships include advisory partnerships with CohnReznick LLP and Goldberg Weprin Finkel Goldstein LLP, with measured client outcomes such as $20 million in tax liability savings on individual transactions and 23 successful 1031 exchanges executed for a single $200 million portfolio sale.

Name

Net Lease Capital Advisors

Legal name

Net Lease Capital

Website

https://netleasecapital.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

Net Lease Capital Advisors is a private real estate investment and advisory firm specializing in single-tenant triple net lease and U.S. Government-occupied properties, serving 1031 exchange participants, high-net-worth investors, and institutional clients with over $17 billion in cumulative transactions closed since 1996.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment Services

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Real Estate Agents & Managers (For Others) (6531), Real Estate Dealers (For Their Own Account) (6532), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB)

akta.pro secondary industries

Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL), Corporate & Institutional Trust Services (FSAAANAB)

Keywords

• Net lease real estate
• Triple net lease
• Real estate investment advisory
• 1031 exchange services
• Delaware statutory trusts

Headquarters

HQ city

Nashua

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Advisory Services: Strategic advisory services for 1031 exchanges, tax planning, and partnership restructuring. Works with clients and their tax advisors to optimize transaction outcomes.
2. Property Acquisitions & Dispositions: Facilitates acquisition and disposition of single-tenant net lease properties including corporate occupied and U.S. government-occupied (GSA) properties. Earns transaction-based fees on property sales.
3. DST Product Distribution: Distribution of Delaware Statutory Trust (DST) interests to investors through broker dealers and directly. Sales of DST share interests qualifying for 1031 exchanges.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Net Lease Capital Advisors is a real estate investment and advisory firm that acquires, advises on, and manages single-tenant triple net lease and U.S. Government-occupied (GSA) properties. The firm distributes Delaware Statutory Trust (DST) products, structures 1031 exchange transactions, and provides advisory, asset management, and investor services. With over $17 billion in transactions closed across 25+ years, it serves institutional investors, high-net-worth individuals, and 1031 exchange participants.

Product overview

Net Lease Capital Advisors is a real estate investment and advisory firm specializing in triple net lease and U.S. Government-occupied (GSA) properties. The company offers a comprehensive suite of services including DST Sales Team Services for distributing Delaware Statutory Trust products, Investor Services for financial reporting and distributions, Advisory Services for tax planning and 1031 exchange structuring, and Acquisitions for single-tenant investment-grade properties. The firm's product portfolio includes Corporate Occupied Properties (single-tenant triple net leases), U.S. Government Occupied Properties (GSA properties), and Cash Flowing 1031 Exchange Offerings. Services are delivered through seasoned professionals with expertise in triple net lease transactions, capital markets, tax code provisions, and sponsorship of Delaware statutory trusts. The company manages a $3 billion asset pool with over $9.4 billion in total acquisitions.

Differentiator

Problem solved

Functional benefit

Products and services

• Advisory Services

Quantifiable outcome

• $20 million tax liability saved for client in foreclosure exchange case
• +4 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Target Rock PartnersminorOthersTarget Rock Partners, led by President Richard Berlinghof, is a client of Net Lease Capital providing a positive testimonial about the firm's professionalism, quality service, and expertise in complex transaction structuring.

Scale indicators13 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Passco Companies: Passco is a privately-held real estate investment firm sponsoring DSTs and 1031 exchange products for high-net-worth investors, with comparable focus on net lease and multifamily offerings distributed through broker dealers.
• Capital Square 1031: Capital Square is a leading sponsor of Delaware Statutory Trust offerings for 1031 exchange investors, with overlapping product structure, broker dealer distribution model, and tax-deferred investment focus.
• BlueRock Investment Partners: BlueRock sponsors institutional-quality DST and direct investment real estate programs including net lease offerings, competing in the same 1031 exchange capital pool with similar broker dealer distribution.
• SRS Real Estate Partners: SRS is one of the largest net lease-focused commercial real estate brokerages, providing investment sales and capital markets services for single-tenant retail, office, and industrial net lease properties nationwide.
• Stan Johnson Company: Stan Johnson is a national net lease investment sales and capital markets advisory firm, directly comparable to Net Lease Capital in serving 1031 exchange buyers and net lease investors across single-tenant assets.

Broad incumbents

• Marcus & Millichap: Marcus & Millichap is a large national commercial real estate investment brokerage with a dedicated net lease specialty group, offering Net Lease Capital comparable transaction services at greater scale across multiple property types.
• CBRE Capital Markets: CBRE is the largest global commercial real estate services firm, with capital markets and investment sales capabilities spanning net lease, office, industrial, and multifamily — overlapping with Net Lease Capital on larger enterprise transactions.
• JLL Capital Markets: JLL's Capital Markets division provides investment sales, advisory, and financing services across net lease and other CRE asset classes, competing with Net Lease Capital on larger institutional GSA and corporate sale-leaseback mandates.

Emerging players

• Realty Income: Realty Income is a public net lease REIT that frequently acquires single-tenant properties at scale — while a buyer/competitor for the assets Net Lease Capital sources, it shares the same tenant-credit underwriting framework and represents a benchmark for net lease valuations.
• W. P. Carey: W. P. Carey is a diversified net lease REIT that invests in single-tenant corporate and government properties globally; its acquisition activity and sale-leaseback programs overlap directly with Net Lease Capital's sourcing and advisory function.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/netleasecapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Net Lease Capital Advisors