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RENWICK REAL ESTATE Renwick Real Estate, LLC was founded in 1996 by Raj Bhatia in order to take advantage of dislocations in the NYC real estate market present at that time. From 1996-2001, Renwick acquired rent controlled, rent stabilized and multi-family buildings from owners and sponsors in financial stress, and then actively worked to create value for our investors over the following decade. Having sold our last NYC property in mid-2008 realizing high targeted IRRs, we are once again engaged in acquiring income producing residential buildings, bulk new-construction condo units, and now, through our division Mortgage Strategies, LLC, distressed residential and commercial debt. Through our seasoned partners, we analyze and consider investments that are primarily off-market where we feel we can create value with a sufficient margin of safety, and meet/exceed pro-forma IRR targets. Over the years, we have developed a team of proven strategic partners that are top in their field. Whether you are interested in a core investment property, special repositioning situation, or distressed asset, we can help. Our basic mandate is simple: to buy below current market prices in stable environments, add "value," and sell into an environment where we believe prices are fully valued. We look for situations that provide minimum un levered IRR’s in the mid to high teens, on conservative underwriting assumptions, but look for unique characteristics that can add significantly to these returns | |
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