Based in Fort Lauderdale, Florida, United States, brokerage NX3 Commercial Group has successfully completed a $15 million, multi-property 1031 exchange on behalf of a repeat client from California, USA. Advisory team members Josh Ferrito and Matt Wister represented the buyer throughout the transaction, identifying and securing three single-tenant net lease properties in Florida and Texas, USA.

Josh Ferrito

The strategic portfolio acquisition allowed the investor to transition capital out of California into tax-favorable growth markets while securing passive income streams backed by corporate-guaranteed leases. In conjunction with the deal’s closing, NX3 Commercial Group promoted Ferrito to vice president of its investment sales team.

From August 2021 to May 2025, Ferrito attended the University of Alabama  in Tuscaloosa, Alabama, USA where he earned a bachelor’s degree in business administration. In September 2025, he joined the investment sales team of NX3 Commercial Group.

The recent executive advancement follows Ferrito’s strong operational performance in 2026, during which he closed seven individual real estate transactions totaling more than $20 million in volume. Company leadership praised the team’s ability to execute a complex multi-state exchange on a strict regulatory timeline while maintaining rigorous underwriting standards.

The acquired portfolio spans restaurant, medical, and drive-thru retail sectors designed to minimize landlord responsibilities. The acquisitions include a Fogo de Chão restaurant in Katy, Texas, featuring over 13 years remaining on an absolute NNN lease backed by Bain Capital; the Longview Regional Emergency Center in Longview, Texas, guaranteed by Community Health Systems, Inc. (NYSE: CYH); and a newly constructed Cali Coffee drive-thru in Coconut Creek, Florida, situated within a Sprouts-anchored retail development. Each asset carries a long-term lease structure with contractual rental increases to ensure stable, ongoing cash flow.

Fogo de Chão

First established in Porto Alegre, Rio Grande do Sul, Brazil, Fogo de Chão has more than 110 locations throughout not only Brazil and the U.S. but also Bolivia, Chile, Ecuador, Honduras, Mexico, the Philippines, Saudi Arabia and the United Arab Emirates.

In 1979, brothers Arri Coser and Jair Coser founded the Brazilian chain of rodízio-style steakhouses with Aleixo Ongaratto and Jorge Ongaratto. Arri and Jair Coser grew up on a traditional Southern Brazilian farm in the Serra Gaúcha, a cultural region comprising the mountainous areas in the northeastern portion of Rio Grande do Sul.

In 1997, Arri and Jair opened the restaurant chain’s first U.S. branch in Addison, Texas. Based in Boston, Massachusetts, USA, Bain Capital acquired the restaurant chain in August 2023 for a reported $1.1 billion.