Ritz Banc Group, a private equity firm based in Washington DC and backed by Middle East investors, has acquired a two-building office portfolio in Washington DC and is on the hunt for other deals in the region - The Washington Business Journal is reporting.
Ritz Banc Group is co-founded by Nasr El Hage Jr and is backed by investors from family offices in Saudi Arabia, Qatar and Lebanon. (The sale price is not disclosed but an affiliate of the firm seems to be listed in public records as buyer of one of the buildings for $18.3 million a couple of days ago).
To see listing and contact emails of investors and family offices from the Middle East, check our 2014 edition of Middle East Investors Directory
More details in The Washington Business Journal here
Profile of Mr. Nasr El Hage Jnr | Co-Founder and Managing Director
Ritz Banc | United States
Mr. El Hage is a seasoned successful entrepreneur, the Co-Founder and Managing Director of Ritz Banc, a private equity firm headquartered in Washington D.C. with focus on international capital. Mr. EL Hage has intensive experience in all aspects of real estate investment transactions mainly in the office and multifamily asset classes. His knowledge includes sourcing investment opportunities, underwriting assets, managing risks and disposition strategies. He also plays a central role in industry research, capital markets and investor relations. Prior to founding Ritz Banc, Mr. EL Hage was a Valuation Risk Analytics Manager at Freddie Mac managing an $ 85 billion portfolio of multifamily fixed income assets and Commercial Mortgage Backed Securities (CMBS). Mr. El Hage also held various consulting positions at BearingPoint (now Deloitte), Deutsche Bank and the World Bank. Mr. EL Hage holds a Bachelor of Science in Economics from George Mason University and a Masters Degree in Applied Economics from Johns Hopkins University. He is also a member of the Arab Bankers Association of North America (ABANA) and The Professional Risk Managers' International Association (PRMIA). Mr. El Hage is fluent in English, French and Arabic. He resides in Washington D.C.
Previous Post: UAE family office to finance $120 million hotel project in Antigua
Next Post: Qatar investors to buy InterContinental Paris Le Grand for $442 million