PHOENIX--(BUSINESS WIRE)--Fundamental Income, Sponsor and Index Provider to the NETLease Corporate Real Estate ETF (NYSE arca: NETL) (the “Fund”), is pleased to announce the creation of a new net lease platform Fundamental Income Properties. The platform received an initial equity commitment of $500 million from a fund managed by Brookfield Asset Management (NYSE: BAM). Founders of Fundamental Income, Chris Burbach and Alexi Panagiotakopoulos, will take on roles of CEO and CIO of Fundamental Income Properties, respectively.
Fundamental will invest in single-tenant properties, net leased to businesses operating in industries that directly and indirectly serve the US consumer. The firm’s primary focus is on providing real estate capital solutions to businesses and business owners with established and growing operations across the United States. These capital solutions will provide critical growth capital to middle market businesses in the current environment of funding uncertainty. Fundamental will target customer facing real estate and support facilities across 85 industries, including, but not limited to consumer services, hospitality, consumer products, healthcare, and critical industrials.
Prior to founding Fundamental Income, Burbach was an executive with STORE Capital (NYSE: STOR), where he led the underwriting of approximately $12 billion of net lease investments, including over $7.5 billion in closed transactions.
Co-Founder, Panagiotakopoulos, comes with an extensive background in originations, credit and real estate finance, with over $1.5 billion of transaction experience having worked with Burbach at STORE Capital, and most recently, having served as Managing Director, Strategic Initiatives for a private distressed debt firm where he was instrumental in new acquisitions and portfolio management.
“There continues to be more and more demand for efficient long-term real estate capital particularly in times like these where businesses are realizing the importance of being aligned with collaborative, well capitalized capital partners,” said Chris Burbach, CEO of Fundamental Income Properties. “Companies want their management teams focused on navigating challenges and creating value in their core operating business, not in the ownership of real estate. With the backing of Brookfield, one of the leading asset managers in the world, we look forward to helping companies unlock static capital tied up in their real estate so they can effectively deploy it to grow their underlying business or strengthen their balance sheet.”
“We’ve assembled a best in class investment team, drawing on years of diverse institutional experience. We look forward to partnering with companies across the country to provide the balance sheet, speed, and certainty of execution they need,” said Alexi Panagiotakopoulos, CIO of Fundamental Income Properties.
Evercore is serving as financial advisor to Fundamental Income Properties LLC.