NX3 Commercial Group has announced the successful completion of an approximately $15 million, three-property 1031 exchange on behalf of a repeat California-based client. Josh Ferrito and Matt Wister of NX3 Commercial Group represented the buyer, sourcing and executing the acquisition of three net-lease assets across Florida and Texas.
In connection with the closing, NX3 Commercial Group also announced the promotion of Josh Ferrito to vice president, investment sales team. Ferrito has closed seven transactions totaling more than $20 million in volume year-to-date in 2026.
The assignment was driven by the client’s objective of repositioning capital out of California and into more tax-friendly, high-growth markets while transitioning into truly passive, hands-off real estate investments. Ferrito and Wister worked with the client to assemble a diversified portfolio spanning restaurant, healthcare and drive-through retail, with an emphasis on long-term leases, strong cred
