Red Bank-based First National Realty Partners, a leading private equity firm, has closed a banner year, executing over $200 million in capital markets transactions and leasing 1.5 million square feet across its national portfolio in 2025.
The firm’s performance highlights the enduring resilience of necessity-based retail—centers anchored by grocery stores and essential services—which has become a favored hedge for investors facing broader economic volatility.
FNRP’s capital markets activity in 2025 was a mix of strategic acquisitions, high-value dispositions, and proactive refinancing. The momentum accelerated in the fourth quarter with several landmark deals:
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Key Acquisition: The purchase of Salisbury Marketplace in North Carolina, further expanding FNRP’s footprint in high-growth Southeastern markets.
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Strategic Dispositions: The sale of City Center Crossing (Georgia) and Premier Center (Michigan), allowing the firm to crystallize gains for investors.
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Refinancing: A successful recapitalization of Brook Highland Plaza in Alabama, securing long-term stability for the nearly 600,000-square-foot power center.
“Our performance reflects the continued demand from debt and equity investors for necessity-based retail,” Michael Hazinski, chief investment officer at FNRP said. “Our transaction volume highlights the strength of the sector as well as our market-dominant portfolio.”
On the operational side, FNRP saw intense tenant demand, managing approximately 12 million square feet of grocery-anchored real estate. The firm signed 273,882 square feet of new leases, while an impressive 1.26 million square feet consisted of renewals and extensions.
Sam Collier, chief revenue officer, noted that the high rate of renewals (accounting for over 80% of leasing volume) is a “testament to the long-term commitment” tenants have to FNRP’s centers. This stability is critical as the retail sector enters 2026 with a focus on “internet-resistant” tenants like grocers, pharmacies, and discount retailers.
