Richard W. Naing

Mr. Naing currently serves as President and CEO of NIE., LTD (1979), as well as RWN Development Group (1986).

Education:

Mr. Naing attended Carnegie Mellon University and graduated in 1972 with a degree in Electrical Engineering and Computer Science(BSEE). In 1973, while attending Law School, he started a Real Estate Brokerage firm, Naing International Enterprises (NIE).

NIE, Ltd:

During the mid-1970's Mr. Naing specialized in Condominium Conversion Projects, primarily in the District of Columbia; Mr. Naing purchased and converted the McIntyre protfolio of residential proerties, most notably The Rockledge and Belmont Park (Kalorama), Louie (Chevy Chase, DC), and Capitol Court (Capitol Hill).

Wynmark Development Corporation:

In 1983 Mr. Naing started Wynmark Development Corporation, which specialized in the restoration of historic properties. Notable among the many projects that he developed during the next ten years was The Parkmont School (Georgetown), The Gaslight Club (CBD), The Teddy Roosevelt Mansion (CBD), The Anchorage and Moorings Office Buildings (Dupont Circle), The Lincoln Building (East End), and The Arcade (Chevy Chase).

WDC Hotel Development Corporation:

Mr. Naing also acquired and renovated hotel properties, including The Days Inn Downtown (12 & K), the Holiday Inn (1900 Connecticut Avenue), and built the Days Inn Potomac Mills (Dale City, VA) and The Days Inn Hilton Head (SC), both of which were new construction projects. During the hotel development phase of Mr. Naing's career, when he formed a subsidiary company to manage the six hotels owned by him, he earned a CHA (Certified Hospitality Administrator) designation.

Adams National Bank:

In 1985 Mr. Naing, together with a group of investors (Mr. Naing was one of two majority owners) acquired The Women's National Bank in the District of Columbia. One of the first actions by Mr. Naing, who served as both Chairman of the Executive Committee (1990-1994) and Chairman of the Adult Committee (1985-1989), as well as a Director of both the Bank and the Holding Company, was to change the name of the Bank to The Adams National Bank, and the name of fthe Holding Company to The Abigail Adams National Bancorp. During Mr. Naing tenure at the Bank for a period of ten years, the bank grew in size from $20,000,000 to over $100,000,000. In deposits.

RWN Development Group, LLC:

Mr. Naing formed RWN Development Group in 1986; one of his first projects was the acquisition of the site (24th. &L), rezoning (PUD), and development of a new mixed-used office, retail and luxury residential project known as 2401 Pennsylvania Avenue, NW. This was one of the first truly high-end, luxury projects to be developed in Washington DC strictly as a rental project (not condominium). The rents achieved for the residential units set new records in the City. The residential units boast Sub-Zero refrigerators, Jenn-Air Stoves, and 10-foot ceilings. The average unit size at this project was approximately 1400 square feet, substantially larger than most of the projects built in the 1980's. 2401 Pennsylvania Avenue, which was designed by KCF (Phil Escoff), won the 1922 Architectural Award (AIA) for 1992 as the finest building in the United States, later that year it was featured as the cover of the AIA magazine.

CB Richard Ellis:

In 1999 Mr. Naing agreed to serve for a 5 year period as Senior Vice President of CB Richard Ellis/Private Client Group in the Washington, DC and at the same time he continued his development activities with RWN Development Group (notably the construction of The Kalorama Lofts in Adams Morgan, DC). As Senior Vice President and Team Leader of the Private Client Group (Investment Properties Group), he specialized in private market real estate sales and finance transactions, primarily in the Mid-Atlantic States. In 2005 after resigned from CB Richard Ellis/ The Private Client Group, Mr. Naing resumed his full time development activities with RWN Development Group.

SMR Investments LLC:

Mr. Naing formed SMR in 1983, as a family investment company, SMR is managed by Mr. Naing, and acts as an investor in many of Mr. Naing's development projects, such as 3301 M Street, NW ( a Condominium Project in Georgetown), 1915 Eye Street, NW (an Office Building in CBD), The District Court House (Cambridge, MD), The Shadow Mountain Ranch (1100 acre residential land development in Granby, CO).

1700 Kalorama Lofts:

Recenlty, Mr. Naing, together with SMR, has completed the 1700 Kalorma Lofts, a new/re-use development of residential condominium project. The main level of this project is a community Art and Craft School, The Sitar School. The Second through fifth floors has completed as luxury residential condominium units for sale. All the condo units was sold before the project completed. The prominent features of this project similar to 2401 Pennsylvania Avenue (which was also developed by Mr. Naing, and designed by Phil Escoff, AIA) are the high ceilings, quality finishes, excellent corner location, and ample private and secure parking.

Licenses:

Mr. Naing is licensed as Real Estate Broker and (previously has been licensed as Certified General Appriaser) in Washington DC, Maryland, Virginia and Colorado. Mr. Naing has over 30 years experience in the real estate industry.

Achievements/Designations: