Richard Ader is the Founder and Chairman of USRA and has been in the corporate real estate net lease industry since 1968. He serves as chairman of the firm’s investment committee.

Mr. Ader is one of the pioneers in the field of corporate sale-leaseback transactions and a leading authority on the subject. He has devised innovative and revolutionary net lease structures including the sandwich lease, stepped rents, and accrual leases, and has overseen the acquisition and management of over $18 billion of net lease real estate. Mr. Ader is also recognized as an expert in operating real estate, having acquired and operated in excess of 20 million square feet of commercial property and 32,000 residential units throughout the United States. Elected by his peers as Net Lease Executive of the Year in 2011, Mr. Ader was also selected as a Legend and Icon, respectively, by Commercial Property News and Real Estate Forum in 2012.

Prior to forming USRA, Mr. Ader was Chairman of the Board and Chief Executive Officer of American Real Estate Partners, a New York Stock Exchange-listed master limited partnership owning net lease commercial real estate. He also served as the Department Head of the Real Estate Division of Integrated Resources, Inc.

A graduate of the University of Vermont, a member of the Board of Directors of the University of Vermont Foundation and Chairman of the Advisory Board of the College of Arts and Sciences at the University of Vermont, Mr. Ader also is a member of the Board of Directors of Southwestern Vermont Health Care (SVHC) and the United States Tennis Association Foundation (USTAF).

Laura Chabza joined USRA in 2014 and is responsible for monitoring tenant lease compliance, insurance requirements, financial reporting, and property inspections along with assisting with investor relations and onboarding and aiding the legal team with property closings.

Ms. Chabza is a certified paralegal and a graduate of Montclair State University (B.S. in Business Administration).

Drew Entin joined USRA in 2022 and assists in all aspects of the real estate acquisitions process, with responsibilities that include financial underwriting, market research, preparation of investment materials, and due diligence.

Prior to joining USRA, Mr. Entin worked for JLL’s Valuation & Advisory team in Chicago, IL, where he performed asset valuations, market studies, and feasibility analyses for a broad clientele base including local and national investment firms, property owners, commercial and investment banks, insurance companies and REITs.

Mr. Entin is a graduate of the University of Wisconsin-Madison (B.S. in Economics) with a concentration in Business Administration and Real Estate.

Ryan Fitzgerald joined USRA in 2014 and is responsible for sourcing and analyzing net lease investment opportunities and assessing corporate credit quality for USRA’s existing portfolio and new investments.

Mr. Fitzgerald joined USRA from GRJ, LLC, where he was responsible for the acquisition, disposition, and repositioning of multi-family and retail assets. Prior to joining GRJ, Mr. Fitzgerald worked as an Assistant Vice President in the Commercial Real Estate Finance division at People’s United Bank, where he completed an intensive eighteen-month credit training program and was responsible for debt originations and portfolio management.

Mr. Fitzgerald is a graduate of the University of Connecticut School of Business (Bachelor of Science, Finance) and New York University (Masters, Real Estate Finance and Investment) and has completed coursework in corporate credit rating and analysis at Moody’s.

Mr. Genende joined USRA in 1989. He supports credit underwriting and net lease asset management.

From 1980 to 1989, Mr. Genende worked for Integrated Resources, Inc. where he supervised a team of accountants and financial analysts, overseeing corporate credit review, the structuring of net lease transactions and asset management of net lease properties. Mr. Genende began his professional career in 1976 working as an accountant with two certified public accounting firms in New York City. In those positions, he performed wide-ranging accounting services for a diversified corporate and industrial client base.

Mr. Genende is a graduate of Bernard M. Baruch College of the City University of New York (MBA, Finance, 1984) and the City College of the City University of New York (BS, Accounting, 1975).

David Grazioli joined USRA in 2007 and was promoted to Partner in 2014 and became Managing Partner in 2022. He is responsible for overseeing the firm’s operating and investment activities. In this role, Mr. Grazioli is involved in originating, structuring, underwriting, financing, and closing acquisitions and dispositions of net lease investments.

During his tenure at USRA, Mr. Grazioli has originated and closed over $4 billion of corporate sale-leasebacks, build-to-suit, renovate-to-suit, and ground lease transactions. In addition to acquisitions, Mr. Grazioli coordinates lending relationships for USRA.

Prior to joining USRA, Mr. Grazioli worked in acquisitions for Unison Site Management, a leading wireless infrastructure owner and manager.

Mr. Grazioli is a graduate of the School of Management at Boston College (Bachelors of Science, Accounting and Finance).

Ms. Gunzberg joined USRA in 1991 and serves as Office Manager, where she is responsible for leading the firm’s office administration and support functions including human resources.

Prior to joining USRA, Ms. Gunzberg served as Office Manager for Chubb Realty, Midwestern Land Development and Drexel Burnham Lambert, where she led firm wide office administration for various business lines.

Ms. Gunzberg is a graduate of Queens College with a Bachelors Degree in Communications Arts and Sciences.

Andrew Harris joined USRA in 2014 and is responsible for investor acquisition and development, fund operations, acquisition and disposition structuring and execution, compliance, and new business development.

Prior to USRA, Mr. Harris worked in the New York private equity group of Winston & Strawn LLP, representing private investment funds, family offices, alternative asset managers and private equity companies in all aspects of M&A activity and portfolio management.

Mr. Harris is a graduate of Fordham University School of Law (JD) and Cornell University (BS, Industrial and Labor Relations).

Mr. Ledy joined USRA in 1991. Prior to joining USRA, Mr. Ledy was a partner in the real estate department of the New York based law firm Shea & Gould. Prior to his experience at Shea & Gould, Mr. Ledy served as a senior real estate litigator at Weil, Gotshal & Manges.

Mr. Ledy is a member of the New York State Bar Association. He was admitted to the United States District Court for the Southern District of New York in 1975 and the Courts of the State of New York in 1975. Mr. Ledy is President of The Franklin Tower Condominium.

Mr. Ledy is a graduate of the New York Law School (JD, cum laude, 1974) and Lehigh University (BA, with honors, 1970). He is a member of the United States District Court for the Southern District of New York (1975) and the Courts of the State of New York (1975).

Sam Mishra joined USRA in 2021 and is responsible for acquisition analysis, financial modeling, investment presentations, market research, supporting asset management, and strategic initiatives to grow assets under management.

Prior to joining USRA, Mr. Mishra worked at various global real estate investment managers on acquisitions, investor coverage, and asset management of core, core-plus, and value-add real estate investment opportunities across various property types and geographies.

Mr. Mishra is a graduate of Cornell University (MBA), Queens College (BBA, Finance and Investments), and completed various certifications including Moody’s Credit, REFM – Excel Modeling, and is Argus Enterprise Certified.