Mr. Naing has served as the President of RWN Development Group, LLC (“RWN”) since its inception. During the mid-1970s and onward, Mr. Naing specialized in condominium conversion projects, primarily in Washington, DC, purchasing and converting the McIntyre Portfolio, including most notably The Rockledge, Belmont Park, The Louie, and Capitol Court.
One of Mr. Naing’s most notable developments began with the acquisition of 24th and L in Washington, DC. At 24th and L, Mr. Naing led the team in the rezoning and ground-up development of a mixed-used office, retail, and luxury residential project known as 2401 Pennsylvania Avenue, NW (“2401”). At the time, 2401 was one of the first truly high-end luxury projects to be developed in DC strictly as a rental project. 2401, which was designed by KCF (Phil Esocoff), won the 1992 Architectural Award (“AIA”) as the finest building in the United States. Later that year, 2401 was featured on the cover of the AIA magazine.
During the 1980s, Mr. Naing specialized primarily in the restoration of historic properties. Notable among the many projects he developed during those years were 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).
Mr. Naing also developed, acquired, and renovated multiple hotel properties, including The Days Inn Downtown at 12th & K, the Holiday Inn at 1900 Connecticut Avenue, The Day Inn Potomac Mills in Dale City, and the Days Inn Hilton Head in SC. During the hotel development phase of Mr. Naing's career, he formed a subsidiary company to manage the six hotels he owned.
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 Washington, DC. One of the first actions taken by Mr. Naing, who served as both Chairman of the Executive Committee (1990-1994) and Chairman of the Audit 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. During Mr. Naing’s tenure at The Adams National Bank, the bank grew in size from $20MM to over $100MM in deposits.
In the early-2000s, Mr. Naing entered the Baltimore market, purchasing the Boxer Portfolio of eight office buildings in Baltimore’s CBD, in partnership with a publicly traded company. In addition to the Boxer Portfolio, Mr. Naing purchased many other properties in Baltimore, notable among which were the Inn at the Colonnade, the Hotel Brexton, the Bourbon Street Nightclub, the Court Square Building, the Purnell Arts Building, and Saratoga Apartments.
Mr. Naing holds a BS in Electrical Engineering and Computer Science from Carnegie Mellon University, a CHA designation, and a CCIM designation.
Mr. Naing is licensed as a Real Estate Broker in Washington, DC, Maryland, Virginia, and Colorado.
Mr. Nyitrai serves as the Senior Vice President of RWN Development Group, LLC ("RWN") and is responsible for day-to-day business and hotel operations and a multitude of additional operational and development activities spanning all owned and managed properties covering multiple asset classes.
Prior to joining RWN, Mr. Nyitrai held senior management positions with Lodgian and Hilton Worldwide where he demonstrated a track record of success in revenue management, efficiency of operations, and all other facets of hospitality and business management.
Mr. Nyitrai holds a BA in Business Management from Loyola University and a CHA Designation.
Mr. Altshuler serves as Vice President and General Counsel of RWN Development Group, LLC ("RWN") where his responsibilities cover multiple areas including finance, acquisitions, development, management, and legal matters.
Prior to joining RWN, Mr. Altshuler clerked at various East Coast law firms and clerked for the Chief Judge of the Maryland Tax Court, The Honorable Walter C. Martz II.
Mr. Altshuler holds a BA from the University of Maryland, College Park - where he was a recipient of Dean’s List Academic Honors and a member of the Alpha Phi Sigma Honor Society, and a JD from the University of Maryland Francis King Carey School of Law - where he was a recipient of the Maryland Law Scholars Award and the CALI Excellence for the Future Award. During his time in law school, Mr. Altshuler authored an independent written work, supervised by Law Professor Daniel S. Goldberg, titled “The Current Structure of Real Estate Investment Taxation: Policy, Inequities, and Reformation."
Mr. Altshuler holds Certificates from Cornell University in both Commercial Real Estate and Hotel Investments & Asset Management and a Certificate from the American Bankers Association in Business and Commercial Lending. Mr. Altshuler is currently pursuing an MS in Finance at Johns Hopkins University- where he is a recipient of the Dean’s Scholarship.
Mr. Altshuler is a licensed Maryland attorney and holds a Maryland Real Estate Broker License. Mr. Altshuler is an active member of the Maryland Bar Association, the Maryland Bar Association’s Real Property Section Discussion Group, and other legal and real estate industry groups and associations.