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Case Study #1 (Real Estate)

Royal Gardens Waikiki Hotel

“Best performing hotel investment for 2nd half 2006 vintage -
118% return in 16 months"

Reached profitability in 4th month, on Property that lost money for 12 yrs

  • Property lost money for 12 straight years
  • Seller under Japanese Restructuring watch
  • Reached operating breakeven in fourth month of takeover
  • Increased ADR and REVPAR by over 50%
  • Dramatically improved ratings

1st ever timeshare approval on a non-conforming hotel in apartment precinct 

  • 228 room hotel was a non-conforming hotel in an apartment precinct
  • Sponsor figured out a mechanism to qualify for timeshare approval
  • Despite repeated rejections, Sponsor ultimately structured within the law to obtain approval

Acquired, executed and exited in the middle of subprime and GFC 

  • Secured financing from NYSE Listed REIT during a time when condo hotel financing was not available
  • Achieved operating gains & challenging entitlements
  • Executed during a challenging sales environment
  • Sold to Wyndham on December 24, 2007

Case Study #2 (Telecom)

Iris Wireless

"The only U.S. based Messaging interoperability provider to have both China Unicom and China Mobile as direct customers"

2nd largest shareholder and most active board member

  • 1st institutional round investor
  • Rick was instrumental in securing funding for each round of financing
  • Active in setting strategy and business development plans

Led from scratch the international expansion, securing Korea Telcom, SK, China Unicom, China Mobile, etc.

  • Rick initiated the strategy and launch of Asia expansion
  • Led the company on its first tour throughout asia from Korea to India
  • Introduced and developed relationships with multiple carriers throughout Asia

Visionary and ahead of the curve innovation, patents and intellectual Property  

  • Iris wireless patents were the nexus of the IP that won patents infringement case against Google
  • Many innovations such as masking calls used by most services providers were invented by Iris Wireless

Case Study #3 (Real Estate)

Hotel La Croix

“Repositioned 70th ranked hotel on Tripadvisor to top 4 ranked hotel in Honolulu, and increasing REVPAR by more than 250%"

Complex acquisition involving two creditors in different countries and bankruptcy proceedings

  • All cash purchase as no debt financing available for bankrupt hotels in 2010 
  • Complexity added by Japanese and Hawaii based lender with murky structure, interests and documentation
  • Long history of absentee ownership and management

Reposition 2 star property into 4 star - increasing REVPAR by 250%

  • Repositioned 70th ranked hotel on Tripadvisor to #1 for value and 4th traveler ranked hotel in Honolulu

Changing of culture from "who cares" to "love and aloha" 

  • Implement SOQ and love and aloha

Case Study #4 (Oil & Gas)

Genesis Development Holdings, Ltd

"Repositioned and restructured oil company located in the Republic of Bashkortoston - extending oil license by 95 yrs, fought off and removed rogue corporate raider, obtained 40% mineral tax exemption and developed new drilling technology"

First oil company of its small size to obtain 95 yr extension of oil license

  • Repositioned neglected oil company to comply with license requirements​
  • Company's oil license was extended to 95 years
  • Won supreme court decision to exclude and remove rogue Russian partner who used mafia type of tactics.

Partnernership with largest private equity firm in Russia

  • Within 2 1/2 years of taking control of distressed asset. Repositioned company to attract  one of the largest investment firms in Russia
  • Localized company with Russian executives and employees

Obtained MET (Mineral Tax) reduction  

  • Secured MET exemption and reduced MET by 40%
  • Reduction in MET allows for commercially attractive unit economics for oil drilling

Alexa Young, CA

“Testimonials provide a sense of what it's like to work with you or use your products. Change the text and add your own."

Case Study #5 (Real Estate)

Holomua

"First ground up high rise to be developed in Honolulu following the 2008 Great Financial Crisis.  Working in collaboration with the State of Hawaii, Unions and local bank, Holomua's success acted as a catalyst for the continue development of high rises in Honolulu"

First ground up high rise condo and affordable development since the Lehman crisis

  • Completed in 2012 during a challenging economic and financing environment
  • First high rise 100% affordable condo project

Significant value add including City Council variance vote on FAR, Height Limit and collaborative financing with State, Unions and Bank

  • Gained 8 to 1 legislative approval to obtain requisite variance required to make project economics work
  • Arranged private and public funds during a time when ground up construction financing was not available

100% sold out before completion of construction

  • Keeping with our philosophy of minimizing downside, applied low risk strategy to sell all units before construction completion
  • Prices of units have roughly doubled from initial sales price
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