GFI Realty launches net lease team; Pershin selected to lead

New York, NY GFI Realty Services, LLC has launched a Net Lease Team (NLT) that will specialize in arranging the sale of  triple-net-lease (NNN) assets  for real estate investors.

“As a full-service firm offering clients a comprehensive slate of brokerage services, we recognize the growing need for net-lease advisory services at this stage in the real estate cycle,” said Michael Weiser, president of GFI Realty.

“Many long-term owners are capitalizing on today’s bull market and divesting of their properties, and these investors often seek to park their capital in stable assets, such as NNN properties, to complete 1031 exchanges. We’re fortunate to have a cadre of seasoned real estate advisors with expertise in these assets, and we’re very excited to announce our formal entrance into the net lease space.” 

The Net Lease Team will include five GFI Realty investment sales brokers, and will be lead by Yisroel Pershin.

“As one of our senior investment sales brokers, Yisroel has the leadership capabilities and specific market knowledge necessary to guide the Net Lease Team,” Weiser said. “His track record of arranging acquisitions and sales of NNN assets in markets across the Northeast demonstrates his deep understanding of these properties and his strong relationships in the space. Our clients will benefit from his breadth of knowledge and wide-ranging investment sales experience in both NNN and other real estate assets.”

Pershin said, “I’m eager to lead GFI’s Net Lease Team as we leverage our strong industry knowledge and contacts to provide real estate solutions for investors and owners. The country’s continued attractive interest-rate environment makes stable assets, such as triple-net-leased properties, particularly attractive to a wide range of investors. Our ability to meet the strong demand for net lease advisory services will add significant value to our clients.”

Concurrently, according to GFI, Pershin has recently completed 10 separate NNN transactions for an aggregate sales volume of approximately $68 million. The properties, all of which are NNN-leased, are located in New York, New Jersey, Connecticut, Pennsylvania, Ohio and Florida.

The transactions include:

·         Brokering the $8-million sale of a TD Bank-occupied property located in East Norwich, New York

·         Arranging the $4.65-million disposition of a TD Bank-occupied property located in Greenlawn, New York

·         Facilitating the $7.2-million acquisition of a portfolio of four dollar-store-occupied properties across New Jersey and Pennsylvania

·         Arranging the $12.6-million acquisition of a Duane Reade-occupied property in Howard Beach, New York; and

·         Brokering the $10.75-million acquisition of a retail strip mall in Cortlandt Manor, New York, which is occupied by Starbucks, Vitamin Shoppe, AT&T and Smash Burger

·         Arranging the $6.9-million acquisition of a CVS-occupied property in Jacksonville, Florida 

·         Facilitating the $11-million purchase of a Shoprite-occupied property in Connecticut

·         Arranging the $3.2-million sale of a Dollar General-occupied portfolio located in Akron and Columbus Grove, Ohio

·         Brokering the $2.5-million sale of a Family Dollar-occupied property in Trenton, New Jersey

“The bulk of these deals were all-cash transactions and involved significant back and forth between the deal parties,” said Pershin. “Through diligent negotiations, we were able to successfully close these transactions on behalf of our clients.”               

In recent months, Pershin has also been extremely active in arranging property sales across New York City. In one transaction, he brokered the $195 million sale of a 640,000 s/f industrial property in Long Island City, Queens. He also arranged Greystar’s $125 million acquisition of 247 North 7th St. and 248 North 8th St., two adjacent multifamily buildings in Williamsburg.         

GFI Realty Services, LLC imparts strategic and comprehensive solutions to maximize the value of real estate assets. Offering a wide array of brokerage services including investment sales, commercial real estate financing and retail leasing, GFI Realty Services, LLC utilizes its affiliate companies’ fully-integrated platform to provide owners, buyers, landlords and tenants nationwide with the market knowledge and due diligence required to consummate multifaceted transactions.

The company’s extensive knowledge of the commercial real estate industry, advanced analytical capabilities and incomparable client services position its executives as masters at executing off market and complex deals that require the most innovative solutions.

The GFI Net Lease Team (NLT) is a select team of GFI Realty Services professionals that specialize in the sale, purchase and recapitalization of single-tenant and multi-tenant net-leased investment properties across the United States. From retail to industrial, sale-leasebacks to development, the elite members of the NLT are leading experts in all aspects of net leases.