First National Realty Partners - Red Bank, New Jersey

Hunter K.

I’ve been following FNRP for 2 years now and have been impressed with everything along the way. While most companies optimize towards heavy sales cultures, all communication from FNRP has been respectful and educational. They have unique investment opportunities available that are not available elsewhere and their white-glove treatment for investors is unmatched.

Larry C.

I have been investing in commercial real estate for 40 years and FNRP is, without a doubt, the best investment experience I have ever had. Everything is open and up-front and the people are very responsive and helpful. I have great confidence in what they are doing. Very professional.

Barry M.

I have enjoyed working with the team at FNRP over the past year. I have invested in four of their "anchored" commercial properties and am highly satisfied with the quarterly dividends (about 5-6%/yr) and the strong potential for capital appreciation within 4 to 5 years. Great results for a lower risk investment.

The signup process was easy and smooth, the "sales" is low pressure, and I enjoy reviewing each opportunity for its potential. I highly recommend FNRP for a "sleep at night" investment.

Lloyd B.

I've been with FNRP for 2 years and have 4 investments as part of LLCs they set up for owning shopping centers which are anchored by large food store chains. To me this seems like a recession proof and internet proof proposition (people have to go out and get food - then they shop or work out or get their hair done while they're out). You may rightfully hear commercial real estate is not doing well since covid, but here is an exception even an unsophisticated investor like me can understand. The quarterly rent payments are sometimes a bit less than projected, but I expected that as there are no guarantees here. It will be a few years before these properties sell, so we'll see how they appreciate (timeline is about 5 years - your money is locked up in the investment for this time, what they call "illiquid"). Their qualification process for properties is thorough and rigorous, and a "system" that seems to work well. The offerings are mostly clear, although there is sometimes jargon that I have to track down with my contact there who is always helpful, no hard sell here. Their fees are not totally transparent, and there is some wiggle room for them to recoup some expenses, but I don't feel they've abused this. They have an entire team dedicated to leasing and maintaining the properties, and this is one of the best value adds here. They've got experts at headquarters (in NJ) and on site so this is not a buy it and forget it prospect for FNRP. I buy properties in states where they already have a presence, so there is some efficiency and knowledge of the local market. They have never had a cash call and for me, the quarterly payments are currently better than CDs. Good experience so far.

Idoko S.

I invested in 3 deals with FNRP. Returns have dismal and far below what was projected.It's been almost 3 years now. The properties have been under performing and despite explanations from FNRP, I am not reassured.

Update: January 27th, 2024. I have to be very honest. You should believe every negative reviews you see here. You will be lucky to get even a 2% cash on cash in actual quarterly returns. Those of you posting 5 starts must be the few lucky ones?! Or you posted your reviews too soon?! Has to be one or the other!

My 3 investments have continued to show terrible returns. My meeting with their head of investments today, while informative, offers little hope of any uptick in returns. In fact, they will be selling one of the investments and I should not expect a complete return of my principal. Meaning there will be a loss of my principal. Heaven knows how much loss I'll incur with that!

All that talk of 8%, 12% or 13% cash returns that you hear at the beginning, are all lies or merely unrealistic projections from a lack of due diligence prior to buying the property. How do you explain the fact that none of several investments meets the targeted cash on cash projections that were presented at the beginning to several different investors prior to their investing? Why promise what you can't deliver on? There's a big problem with this company.

For those of you still enjoying your relationship with the company, hopefully they don't tell you the usual story about some 'maintenance or repairs' that seemingly go on forever! I just can't understand that part! If you look carefully through the reviews posted, you will see this as a recurring theme. And of course, they will give you their explanations for that.

Hopefully we all learn from this terrible experience with FNRP. Be very aware that this investment is illiquid. There are ways to get your money out but it's difficult and you likely lose some.They will most likely hold my total investment for well over 5 years with likely a net zero or close to zero return on the investment (counting in the loss in capital I'm told I'll incur). How about the time wasted over 5-8 years?! On hindsight, there are better things to have invested that substantial amount in. But hey, hindsight is always 20-20 right?! I do regret the investment, but will learn from this experience. Investment of course is a risk and these have been bad in my opinion due to the company (FNRP) that I invested through.

I most definitely would neither encourage nor advise anyone to invest any funds with this company. Not with my experiences. It would be patently dishonest and that I cannot do. I hope that sharing my experiences with some of you is helpful.

Gary Z.

Update Feb 11, 2025 - The dividend yield for Bishops Corner has declined for 3 consecutive quarters and the full year yield was 2.66%. Unanticipated repairs continue to occur and the report includes notes, "In anticipation of triggering a Cash Sweep period distributions to investors will be lowered to $150,000 for Q4 and will likely be paused for the remainder of the year". Also included, "A partial Asset Management fee will be paid in Q4 and deferred if distributions are paused in the future" (No mention of lost investor distributions included in the deferral). This has been an awful investment and each quarterly report has additonal bad news with no mention of any upside. Just thankful I took a cautious approach to investing with FNRP and have halted any additional investments.

Update Aug 22,2024. The most recent dividends received include 3.7% for Q1 and 2.7% for Q2. The Q2 dividend was reduced due to ongoing maintenance issues and a $426K payment to the Seller "for their portion of the 2022 CAM reconciliations" (I dont recall any mention that this was a risk per previous reports). FNRP continues to include a note, "There is a potential for future distributions to be lowered or temporarily suspended" so I sent a note to Mike Mirman (FNRP VP who responded to my previous post - see below). I believe it is unacceptable for FNRP to continue to claim the dividends are at risk without indicating the actual risk and timeline. I am quickly losing confidence that FNRP can accurately access and manage a project to achieve their stated goals. The email to Mike was sent on August 3, 2024 and a follow up call was made approximately one week later. Mike has not responded to either.

I invested FNRP in December 2022. The Bishops Corner development was projected to yield 6% - 6.5% with the potential for higher returns. In a recent communication FNRP indicated the project was going well and meeting the expected yields. In addition, I have been bombarded by new investment offers to the point where I asked to be removed from the emails/calls/text messages. My relationship manager indicated the project was doing well and paying distributions as expected - however this is not how the project was promoted. Unlike some other investors, I have been receiving consistent quarterly distributions, however the Jan 2024 update included caution that "there is the potential for future distributions to be lowered or temporarily suspended" to fund these unanticipated repairs.
FNRP seems to be a responsive and reputable company, however I am being very cautions and stopped plans to invest in other properties. I am concerned that FNRP is too aggressive with additonal projects and I am not sure our goals are aligned as they often mention when responding to troubling reviews (does FNRP concede some of their income when distributions are not made?). I also agree with some other comments that the updates lack the transparency and depth for us to really evaluate the project. I have tried to closely follow the leasing activity and maintenance updates to get an accurate perspective but find it difficult to really understand the net impact to leasing and the potential project income and the maintenance story seems to consistently change. The depth of negative reviews as opposed to the brevity of positive reviews is concerning as is the claim that other investors are achieving poor performance.

Tony M.

As an investor in four of FNRP's properties, I've had a mixed experience that I think is important to share for others considering investing with FNRP. My journey with them has highlighted both strengths and areas needing improvement in their investment management approach.

On the positive side, investments in two of FNRP's properties have yielded consistent returns, aligning with my expectations and illustrating FNRP's potential in successful property investment management. This aspect of their service is commendable and demonstrates their capability in managing certain investments effectively.

However, the returns from the other two properties have been inconsistent, falling short of my expectations. This variance in investment performance is a significant concern, as it reflects a lack of uniform success across their property portfolio. The inconsistency in returns from these properties is a major drawback in my experience with FNRP.

Another critical area where FNRP could enhance their service is communication. While the team is professional in their general interactions, they seem to lack proactive communication regarding financial matters, especially when investment returns are below expectations. I often find myself in the position of having to initiate contact to seek explanations for these underperformances, which can be quite challenging and time-consuming.

In summary, while FNRP demonstrates proficiency in managing some investment properties, the inconsistency in returns and the lack of proactive communication on their part are notable concerns. For prospective investors, it’s advisable to be prepared for active involvement and to closely monitor their investments, particularly if any performance issues arise

Wayne R.

I've recently invested in two shopping center deals with FNRP. My experience so far has been very positive from their response time to my original inquiry to coordinating the project funding. I have past experience with working in real estate, and I trust FNRP to execute their plans to increase the value of the properties and provide a good return for the investors. If these investments turn out well, then I will continue to invest in future opportunities.