Fernau LeBlanc Investment Partners

What Fernau LeBlanc Investment Partners does

Fernau LeBlanc Investment Partners, LLC ("FLB") is a privately held, founder-controlled private equity and commercial real estate investment firm headquartered in Bethesda, Maryland, founded in 1998 by William B. LeBlanc III and Blair Fernau. The firm invests as an active operator in commercial real estate — including retail, industrial, and office properties, plus mortgage and REO portfolio acquisitions — and provides controlling and non-controlling capital solutions (senior, mezzanine, and hybrid) to balance-sheet-constrained operating companies across verticals such as moving and storage, concrete construction, plumbing, disaster restoration, restaurants, sports facilities, airlines, and rail logistics. FLB has cumulatively acquired more than $400 million in commercial real estate since 2011 and its principals have managed acquisition of more than $1 billion in performing and non-performing loan and REO portfolios over their careers.

The firm operates as a dual-component investment and operating platform: FLB serves as the investment entity while its wholly-owned subsidiary Property Services Group (PSG), also formed in 1998, delivers in-house asset management, property management, accounting, engineering, maintenance, construction management, and development oversight to both owned and third-party properties. Revenue mechanics span asset and property management fees, professional services fees from PSG, and capital returns from equity investments in the diversified portfolio of operating companies (e.g., Fairfax Transfer & Storage, Ace Moving & Storage, Beltway Movers, A2B Moving and Storage, Intown, Merit Restorations, O'Connor Plumbing, Medium Rare, Avelo Airlines, U.S. Rail & Logistics, Dominion Sportsplex, Red House Staging & Interiors).

Distribution is relationship-driven and targeted at high-net-worth family offices and traditional institutional investor equity sources through joint ventures, co-investments, and direct engagement, with a secure investor portal serving existing LPs. Pricing is quote-based and negotiated deal-by-deal. The firm employs 13 real estate, management, and maintenance professionals and is operated without external private equity or venture capital backing, with both founders remaining active principals across all aspects of the business.

Name

Fernau LeBlanc Investment Partners

Legal name

Fernau LeBlanc Investment Partners, LLC

Website

https://fernauleblanc.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

1–10 employees

Short description

Fernau LeBlanc Investment Partners is a Bethesda, Maryland-based private equity and commercial real estate investment firm founded in 1998 by William B. LeBlanc and Blair Fernau. It invests in CRE and operating companies, serving family offices, institutional investors, and balance-sheet-constrained businesses through its integrated FLB/PSG platform.

Ownership category

akta.pro rank

Product category

Private Equity and Commercial Real Estate Investment Management

NAICS

Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282), Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531)

akta.pro industry

PRIMARYBPAJAMAJ

Real Estate Portfolio & Fund Management (Institutional/REIT/PE)

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Real Estate Asset & Portfolio Management

Keywords

• Private equity investment
• Commercial real estate
• Asset management
• Property management
• Portfolio company investing

Headquarters

HQ city

Bethesda

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others, Marketing or Sales

Revenue model

1. Asset Management Fees: Fees generated from managing commercial real estate assets and investment portfolios on behalf of investors
2. Property Management Services: Revenue from providing property management, asset management, accounting, engineering, maintenance, and construction management services to owned and third-party properties through Property Services Group (PSG)
3. Private Equity Investment Returns: Returns on invested capital in controlling and non-controlling interests across operating companies including concrete construction, moving/storage, sports facilities, airline, restaurant, and railroad infrastructure industries
4. Real Estate Investment Returns: Returns from commercial real estate investments including retail, industrial, and office properties, as well as mortgage and property portfolio acquisitions

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Fernau LeBlanc Investment Partners (FLB) invests in commercial real estate and provides controlling and non-controlling private equity capital to balance-sheet-constrained operating companies. The firm deploys senior, mezzanine, and hybrid capital solutions across retail, industrial, and office properties. Its wholly-owned subsidiary Property Services Group (PSG) provides asset management, property management, accounting, engineering, maintenance, and construction management services to owned and third-party properties.

Product overview

Fernau LeBlanc Investment Partners operates as a dual-component investment and services platform: FLB (Fernau LeBlanc Investment Partners) serves as the core private equity and commercial real estate investment entity, while Property Services Group (PSG) provides integrated property management services including asset management, property management, accounting, engineering, and maintenance. The firm manages a diverse portfolio of operating companies across industries including moving and storage (Fairfax Transfer & Storage, Ace Moving & Storage, Beltway Movers, A2B Moving and Storage), construction (Intown, Merit Restorations), hospitality (Medium Rare restaurant), transportation (Avelo Airlines, U.S. Rail & Logistics), sports and recreation (Dominion Sportsplex), plumbing services (O'Connor Plumbing), and staging (Red House Staging & Interiors). The firm also maintains a portfolio of Food Lion anchored retail centers and has invested over $400 million in commercial real estate since 2011.

Differentiator

Problem solved

Functional benefit

Brands

• Property Services Group (PSG): Full-service commercial property management company providing asset management, property management, accounting, engineering, maintenance, construction management and development oversight services to owned and third-party properties

Products and services

• Fernau LeBlanc Investment Partners (FLB) Private Equity & Real Estate Investments Private equity and commercial real estate investment offering for institutional investors, family offices, and operating companies. Provides controlling and non-controlling investments in retail, industrial, and office properties, plus senior, mezzanine, and hybrid capital solutions to balance-sheet-constrained operating companies.
• Property Services Group (PSG) - Full-Service Property Management Full-service commercial property management offering providing asset management, property management, accounting, accounts payable/receivable functions, engineering, maintenance, construction management, and development oversight to owned and third-party properties.
• FLB Food Lion Properties Portfolio of Food Lion anchored retail centers across the National Capital Region (DC/MD/VA) and Southeast (Richmond-Fredericksburg corridor), actively managed as part of FLB's commercial real estate holdings.

Quantifiable outcome

• Acquired more than $400 million in commercial real estate since 2011
• +2 more outcomes

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Parallel Capital Partners: Private commercial real estate investment firm focused on office, industrial, and retail properties with in-house property management capabilities, comparable to FLB's RE investment + PSG platform.
• PCCP, LLC: Private equity real estate investment firm that provides capital solutions and asset management for middle-market commercial real estate, comparable to FLB's mid-market RE investment focus.
• DRA Advisors: Private real estate investment management firm that invests in commercial real estate equity and debt on behalf of pension funds, endowments, and high-net-worth investors, similar in size and strategy to FLB.
• Trive Capital: Middle-market private equity firm focused on special situations and operational turnarounds, comparable to FLB's approach of investing in balance-sheet-constrained companies and providing restructuring support.
• Buchanan Street Partners: Private real estate investment firm that invests in commercial real estate and manages assets on behalf of institutional and high-net-worth investors, similar to FLB's integrated investment and asset management approach.
• Wynnchurch Capital: Middle-market private equity firm that invests in operating companies across multiple industries with operational value-add approach, similar to FLB's PE strategy of investing in balance-sheet-constrained operating companies.

Regional players

• The Donohoe Companies: DC-area commercial real estate development, investment, and property management firm, comparable to FLB's Bethesda-based Mid-Atlantic focus and integrated investment/property services model.
• Republic Properties Corporation: Washington DC-based commercial real estate investment and development firm focused on office and mixed-use properties, similar to FLB's DC-area focus and commercial real estate investment strategy.

Broad incumbents

• Walker & Dunlop: Large commercial real estate finance company with multifamily, debt brokerage, and investment sales capabilities, serving as a broader incumbent in the CRE space where FLB also operates.
• GreenOak Real Estate (Bentall Kennedy): Global real estate investment management firm that invests in commercial real estate across multiple sectors, comparable to FLB's institutional-grade RE investment approach but at much larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fernau-leblanc-investment-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

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 Fernau LeBlanc Investment Partners