Five X to Focus on RE for Individual Investors

Five X Securities Inc., Oakton, Va., has been formed to provide what it terms "high-quality real estate opportunities to individual investors," and Daniel Young has been appointed as principal and chief executive officer. The independent broker-dealer said it will initially focus on the apartment sector, as well as seek out opportunities in the industrial and office sectors. "We fully intend to identify investment opportunities and craft institutional-quality deals of the type previously unavailable to individuals," Mr. Young said. "These deals will feature low fees and an alignment of interest between the sponsor and the investor. And it is our intent to distribute to high-net-worth individuals." Mr. Young, 41, had been president and CEO of NFP Securities, Austin, Texas, since 2007, and he previously spent eight years with New York Life Insurance Co. as president and CEO of NY Life Securities and Eagle Strategies, both in New York City.