FNRP focuses on owning and operating market dominate centers that maintain the #1 or #2 position within their respective markets. We have developed a specialized focus and expertise in owning and operating grocery anchored shopping centers.
We seek core, core plus or light value add properties that will allow FNRP to deliver a high single digit recurring cash on cash yield to provide stable returns to our investors. For each investment we target an IRR in the low to mid-teens to provide our investors with a balanced return that consists of durable cash flow along with capital appreciation.
Through our relationships with leading brokers along with private owners and operators we identify opportunities that are both on and off market. With our access to capital and our established track record of closing on transactions with leading institutions, we have become a preferred buyer in the market.
FRNP draws on its talented team of real estate professionals to evaluate each deal from the bottom up. We analyze each lease and operating expense at a property while leveraging the real time data and relationships of our leasing and property/asset management team to assist in our underwriting.
With the benefit of this proprietary information we create a business plan to guide the property during our holding period and maximize value for our investors.