Mr. Naing has served as the President & CEO 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, a CCIM designation, and completed graduate coursework in Management Information Systems at American University.
Mr. Naing is licensed as a Real Estate Broker in Washington, DC, Maryland, Virginia, and Colorado. In previous years, Mr. Naing held a Series 7 Securities License and United States Coast Guard License (US Merchant Marine Officer).
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. Naing serves as Managing Director of RWN Development Group, LLC ("RWN").
Prior to joining RWN, Mr. Naing was made Partner at Ideal Realty Group, a full-service brokerage firm which has closed over $6 Billion in commercial real estate transactions since 1976, worked as a Financial Advisor at Northwestern Mutual, and worked as a Trainee at Chaney & Associates, an appraisal and valuation services firm.
Mr. Naing has 15+ years of extensive experience in analyzing, structuring, and negotiating complex real estate transactions over several asset classes. His track record includes mixed-use, affordable housing, student housing, market-rate, retail, office, and hospitality projects.
Mr. Naing holds a BA in Economics from Rollins College, a BA in Business from Georgetown University, and an MS in Real Estate from Johns Hopkins University.