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NP2 Capital specializes in Flex Space developments, combining rigorous analysis with a conservative investment approach to deliver resilient, long-term returns.

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Flex Space Investments

Backed by Discipline and Data

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About NP2 Capital

NP2 Capital is a private real estate investment firm specializing in Flex Space developments.

We focus on creating resilient, long-term investment opportunities through disciplined underwriting, data-driven decision making, and a conservative approach to risk management.

Our mission is to deliver stable returns by identifying high-demand, underserved markets across the U.S.

Why Flex Space?

Flex Space is one of the most underserved and opportunity-rich segments in U.S. real estate.
It combines the stability of industrial with the flexibility small businesses need.

High Demand — Driven by local service providers, trades, and small e-commerce businesses.
Low Institutional Competition — Under the radar of large funds and REITs.
Longer Lease Terms — Tenants often stay 5+ years due to buildout costs and lack of alternatives.
Resilient Income — Less sensitive to macro swings compared to office or retail.

Our Investment Philosophy

At NP2 Capital, we take a conservative, data-driven approach to real estate investing.
Our goal is to deliver long-term, resilient returns by focusing on fundamentals and protecting downside risk

Discipline First

Every decision is driven by analysis, not emotion or market hype

Downside Protection

We prioritize risk management and stress test every deal before moving forward

Conservative Underwriting

Our projections are based on realistic assumptions and proven models

Alignment with Investors

We invest our own capital alongside our partners in every deal

Our Track Record

We built our real estate experience through years of active investing in residential assets, including single-family rentals, small and medium multifamily properties, and renovation projects.
While these investments have performed well, even through today’s challenging market, we’ve seen the residential space grow increasingly saturated with capital and competition.
That led us to a more strategic opportunity: Flex Space.
Underserved and overlooked, this segment offers what we were looking for: predictable, long-term income through NNN leases, combined with strong equity growth potential driven by tenant demand and limited supply.
Our background in engineering, business, and technology shapes how we operate: analytical, hands-on, and focused on fundamentals.

Boxwood Terrace

Greenwood, SC

Arco Dr.

Jacksonville, FL

What we do?

Develop

We identify land in high-demand, underserved submarkets and lead the entire development process, from entitlement and planning to construction oversight.
Our focus is on delivering modern, functional Flex Space tailored to small-bay industrial users.

Lease & Manage

We work closely with professional property management teams to lease and operate our assets.
While day-to-day operations are outsourced, we stay actively involved, setting clear expectations, monitoring performance, and ensuring tenants are well-supported and properties are maintained to a high standard.

Deliver Returns

Our goal is to generate strong, stable long-term returns through a combination of long-term rental income and equity growth.
We focus on tenant-friendly, low-maintenance properties with long lease terms and minimal owner responsibilities, creating stable cash flow and long-term value for our investors.

Meet the Team

A seasoned, friendly, and highly motivated team

Co-Founder & Managing Partner

Gerardo Waisbaum

Real estate investor and developer with a strong background in residential and commercial real estate, including single-family rentals, multifamily properties, and now ground-up Flex Space development.
Gerardo holds a BSc in Electrical Engineering and an MBA, both from the Technion.
He leads investor relations, project evaluation, and strategic oversight, combining analytical discipline with hands-on experience built across multiple markets.

Co-Founder & Managing Partner

Yamit Besso

Yamit brings several years of experience in real estate investing and renovations, with a sharp focus on sourcing high-potential opportunities and managing on-the-ground operations.
She holds a BSc in Computer Science from the Technion and previously worked in business systems and process execution.
At NP2 Capital, she leads deal sourcing, local market analysis, and execution coordination across projects.

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Get in Touch

Have questions about our approach? Curious about Flex Space?
We’re always happy to connect, no pressure, no sales pitch.

contact@np2-capital.com