By Joshua Burd
First National Realty Partners has named a new executive chairman and chief investment officer after a promotion and a new hire on its Red Bank-based team.
The real estate investment firm said industry veteran Michael Hazinski is filling the CIO role after it elevated Jared Feldman, who formerly held that position, to executive chairman. The appointments support what the company says is its continued growth as it increases its market share of grocery-anchored and necessity-based, open air shopping centers nationwide.
“Recruiting top talent and rewarding outstanding performance is critical to our success as we expand FNRP’s portfolio and geographic reach,” said Christopher Palermo, co-founder and co-chairman. “Mike and Jared exemplify the caliber of professionals who possess the expertise and the dedication necessary to help us move our company forward.”
In a news release, FNRP said Hazinski will leverage his more than 19 years of retail real estate investment experience to design and implement strategies to grow the firm’s portfolio. His arrival comes as it has closed or has in contract more than $800 million of property investments year to date, while it’s targeting some $1 billion of new acquisitions in 2023.
Hazinski most recently was a senior vice president and director of investments at Retail Properties of America Inc., where he executed on more than $4 billion in closed transactions encompassing acquisitions, dispositions, debt financing and joint venture equity.
“We are thrilled to have Mike on board,” said Feldman, who will work closely with Hazinski as he transitions into his new role. “It was immediately apparent to everyone involved in the interview process that he has the credentials and connections to take the company to a new level on the acquisition side. I am confident our team is in strong and capable hands.”
Hazinski is also a former asset manager for a portfolio of closed-end funds invested in retail and multifamily assets, the news release said. He holds an MBA from the University of Chicago Booth School of Business and a bachelor’s from the University of Dayton.
“I am excited to join one of the most active retail acquisition platforms in the country,” Hazinski said. “I look forward to working with our dynamic acquisitions team to execute our growth strategy.”
Feldman joined FNRP in 2020, the firm said, touting his role in its evolution and rapid growth in the commercial real estate investment sector. In his new post, he will focus on strategic initiatives that include creating an Institutional Equity Program for FNRP and developing educational content for investors, along with the implementation of other key initiatives to support the company’s future growth.
“I am incredibly proud of what the entire FNRP team has accomplished during the past three years,” Feldman said. “As an organization, we are just getting started, and I am excited to help the company continue to execute on its long-term strategic vision.”