RWN Development Group Offers Notable Maryland Properties for Sale

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Baltimore-Washington area developer Richard Naing of RWN Development Group is offering his portfolio of prominent properties in Baltimore City and Maryland for redevelopment.

“From their locations adjacent to the campus of The Johns Hopkins University and the Mercy Medical Center and in the historic Mount Vernon neighborhood, these well-positioned investments will continue to enjoy substantial appreciation in the future.”

RWN Development Group, owned by award-winning regional developer Richard Naing, announces the sale of its portfolio of 10 properties in Maryland. More information is available at http://www.rwndevelopmentgroup.com.

The properties, the majority of which are located in downtown Baltimore, represent some of the most unique and historic buildings in the City, including The Hotel Brexton and The Court Square Building. Many of the properties have undergone a significant restoration or are now under renovation.

Both sales and joint ventures will be considered, according to RWN President Richard Naing. He will also consider partnerships and other arrangements such as trade for a yacht or an exchange for real estate, specifically in Florida. A complete property list is available at http://www.rwndevelopmentgroup.com.

The portfolio includes the following properties among others:

THE COURT SQUARE BUILDING 200 E. Lexington St, Baltimore, MD 21202
Built in 1929 at the start of the Great Depression
20 Story, Redevelopment Opportunity for Hotel, Apartments and/or Offices plus Retail

BOURBON STREET/FORMER HAMMERJACKS 316-318 GUILFORD AVE Baltimore, MD 21202
New high-rise (up to 100 stories) available for development, or adaptive re-use, into a Food Court/Market, or Offices, or Retail/Restaurant

THE HOTEL BREXTON & 913 TYSONS Baltimore, MD 21201
29 room Luxury Boutique Hotel in Mount Vernon and adjoining Townhouse http://www.hotelbrexton.com

INN AT THE COLONNADE (PLUS UNIT 509) 4 W. University Parkway, Baltimore, MD 21218
Doubletree by Hilton Hotel with 125 Rooms and Private Garage, and extensive patios and meeting areas, located directly across from The Johns Hopkins University. http://www.colonnadebaltimore.com

MT. VERNON APARTMENTS 902-904 ST PAUL STREET Baltimore, MD 21202
16 renovated Duplex & Studio Apartments

DISTRICT COURTHOUSE 310 Gay Street Cambridge (Dorchester County,) MD 21613
Renovated with a new 10-year State of Maryland Lease

UNITS 201, 203, 205, 207 PIERSIDE Baltimore, MD 21230
Four commercial waterfront offices leased to one tenant, 10 years.

According to Naing, the portfolio represents a myriad of real estate investment and/or development opportunities in burgeoning areas of Baltimore. “From their locations adjacent to the campus of The Johns Hopkins University and the Mercy Medical Center and in the historic Mount Vernon neighborhood, these well-positioned investments will continue to enjoy substantial appreciation in the future,” says Naing.

“I look forward to working with potential buyers who will build on RWN’s demonstrated commitment to the City,” he adds.

The RWN Development Group portfolio showcases Richard Naing’s 44-year career in the real estate industry, which started with his creation of Naing International Enterprises in 1973 and which was followed by the founding of RWN Development Group a decade later. His acquisitions have included multi-million dollar properties such as The King Ranch in Granby, Colorado, once owned by the Enron Corporation.

Over the years, developer Naing has become well-known for his development, restoration and preservation efforts, which have earned accolades for work in Washington, DC and beyond. A milestone project in the nation’s capital is 2401 Pennsylvania Avenue, N.W., which won a 1992 Architectural Institute Award and which continues to be one of the most desirable addresses in Washington, DC. Historic DC area developments include Teddy Roosevelt’s Mansion on 19th and Jefferson and Ulysses Grant’s Home on 1020 16th Street.

Notable, highly regarded residential projects include the conversion of a Chevy Chase apartment building into luxury condominiums, which was named The Louie for Naing’s future wife. His last DC project was The Kalorama Lofts at 1700 Kalorama Road in Adams Morgan, which achieved some of the highest prices on record for condominiums in the District.

Naing moved his company headquarters to Baltimore, Maryland, in 2004 with his purchase of the Boxer Portfolio, which consisted of eight historic buildings in downtown Baltimore, including The Equitable Building and Brown’s Arcade, that have since been converted to hotels, offices, and apartments. He was also the owner of The Jefferson at 101 North Charles Street, which he purchased for $2 million in 2005 and sold six months later for $6 million.

Naing spent the next 12 years investing in Baltimore and its distinctive buildings. He counts among his most rewarding achievements a $7.6 million investment in the redevelopment of the landmark Brexton building, childhood home of Wallis Simpson, which had been abandoned for 25 years. His luxury boutique hotel, The Hotel Brexton, garnered a Baltimore Heritage Preservation Award Award in 2010.

“Many of our projects like The Hotel Brexton have been a labor of love,” explains Naing. “I’m proud of our work to bring the region’s ‘jewels’ back to life and l look forward to bringing the same passion and drive to the next phase of my life.”

Once his Maryland portfolio is sold, Naing plans to retire and sail around the world. The long-time resident of Potomac, Maryland aims to return to his native Myanmar (Burma), where he will use his decades of experience to assist developers in that country. He is already an investor in the development of an oceanfront luxury resort in Myanmar, known as Wind Song.

ABOUT RWN DEVELOPMENT GROUP:
RWN Development Group, headed by President Richard Naing, is one of Greater Baltimore’s top minority-owned businesses. Based in Maryland and specializing in the Baltimore/Washington DC Corridor, RWN consists of a team of multidisciplinary experts with extraordinary qualifications in commercial and residential real estate. Since its founding in 1983, RWN has been responsible for the development of a wide range of significant, high-impact, and high-profile properties in Washington, DC and throughout Maryland. More information is available at http://www.rwndevelopmentgroup.com.

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