Ralph Cram is president of Envoy Net
Lease Partners LLC in Northbrook,
IL. Throughout his 25-year career, he
has underwritten, acquired or
financed $1.5 billion of assets across
all product types and geographic markets. He co-founded Envoy in 2011 to
fill a void in the market: providing
equity and gap financing to developers of built-to-suit or redeveloped single-tenant net lease properties.
A widely regarded expert on net lease financing and investment, Cram has spoken at virtually every major national and
regional industry conference. He has also made presentations
on US net lease investment to the Singapore and Shanghai CFA
societies. In 2009, he was awarded membership into the
Counselor of Real Estate Association for his work on advising
investors in alternative real estate strategies. Cram, who earned
his CFA designation in 1995, is an active member of the Chartered
Financial Analyst Society of Chicago and the CFA Institute.
G. JOSEPH COSENZA
G. Joseph Cosenza is one of the four
original principals of the Inland Real
Estate Group LLC, which celebrated its
50th anniversary in 2018. The vice
chairman and director, who has held
his broker’s license since Inland incorporated in 1968, supervises a staff
engaged in property acquisitions and
due diligence. Also a consultant to
other real estate entities and lending
institutions, he has overseen and/or
negotiated the purchase of $46 billion of income-producing real
estate in more than 3,600 individual deals.
Initially a teacher and assistant principal, Cosenza has also held
prominent roles in the banking industry. These include serving as
a director of Continental Bank, and chairman of American
National Bank of DuPage, then as chairman and director of Inland
Bank & Trust. He was also a board director of Inland Bancorp.
Cosenza was recently inducted into the Chicago Association of
Realtors Hall of Fame. The Inland Real Estate Group of Cos. Inc.
was also the first inductee into CAR’s Corporate Hall of Fame.
As president and founder of Wilmette, IL-based Boulder Group, Blankstein has more
than 26 years of experience in net lease real estate investment. And according to
industry benchmarks determined by CoStar and Real Capital Analytics, the level of
annual, single-tenant transaction volume consistently ranks the firm among the top 10
companies nationally. He regularly ranks among the top five individuals nationally,
having closed more than $5 billion in transactions throughout his career.
In addition to advising clients on the acquisition and disposition of net lease properties
across all subsectors, Blankstein is charged with guiding the overall operations of the
Boulder Group. One of his significant tasks is mentoring the next generation of leaders
both at the company and the broader industry. He also launched and manages the firm’s
co-investment program, which has acquired $173 million in STNL assets.
There are many segments within the
net lease sector, and Bryan Bender
could start or lead change in each by
the sheer quantity of transactions he
completes each year. During the past
five years, he has facilitated the sale of
more than 800 dollar stores (Dollar
General, Dollar Tree and Family
Dollar) annually, and has sold more
than 100 dollar stores every year for the
past six years (a total of 777 Dollar
Generals sold, or one of every 20 total). His reputation as one of
the top dollar store brokers has developers calling Bender to discuss pricing before even getting a site approved by a tenant.
Bender is partner and managing director of Fortis Net
Lease, the Farmington Hills, MI-based firm he founded in 2010
with his brother, Robert Bender, and business partner Doug
Passon. With more than $1 billion in personal net investment
career sales, Bender facilitated more than 130 transactions valued in excess of $197 million in 2018 alone.
RICHARD H. ADER
Richard H. Ader has been in the corporate real estate net lease industry
since 1968. He founded U.S. Realty
Advisors LLC in 1989 and currently
serves as chairman, chief investment
officer and portfolio manager of the
Ader is known as a pioneer and
leading authority in the field of corporate sale-leasebacks, delivering
innovative and revolutionary net
lease structures including the sandwich lease, stepped rents
and accrual leases. He has overseen the acquisition and management of over $20 billion of net lease real estate.
Ader has also acquired and operated more than 20 million
square feet of office, retail and industrial property, as well as
36,000 residential units and 5,000 hotel rooms, throughout the
US during his career. Prior to forming U.S. Realty Advisors, he
served as chairman and CEO of American Real Estate Partners,
a NYSE-listed master limited partnership consisting of net lease
real estate investments.