Chain Bridge Capital is actively involved in the acquisition of student housing and multifamily real estate. Chain Bridge Capital sources transactions, raises equity, secures debt, invests partner equity, conducts due diligence, directs closing, and oversees the management of the acquired properties post-closing.
We focus on off-campus student housing and multifamily properties.
We believe in an honest, straightforward approach when dealing with our clients and their challenges. Our integrity is our greatest asset and we will never compromise on it.
We strive to maximize the return on our equity that best meets our combined investment objectives.
Our two managing partners have more than 50 years of combined experience in lending, fund management, institutional asset management and operations over all major property types. We understand both sides of the real estate transaction having direct experience as both borrowers and lenders; as principals and advisors; and as buyers and sellers.
Having experienced multiple boom-bust cycles in multiple regions of the United States, our principals understand market risks and opportunities.
Built in 2009, this 228-unit, 816-bed property is located approximately 1 mile from the center of the James Madison University campus. While well maintained, the unit will be upgraded with new flooring and large screen, 4k, smart televisions. Property operational upgrades include adding a shuttle bus and improving the internet.
Built in 2000/2001, this 264-unit conventional property is located in Wilmington, North Carolina. The capital improvement plan includes renovating unit interiors, replacing the current undersized clubhouse with a modern, larger one, adding amenities, and curing deferred maintenance.
Built in 2012, this 165-unit, 522-bed property is located within walking distance of the University of South Alabama in Mobile. The property was acquired on an off-market basis. Upgrades included added televisions to each unit and improving the internet infrastructure.
Built in 2009, this 380-unit, 864-bed property is located one mile from the central campus of Texas A&M University. At closing, the property was well occupied, but at rates that were below market. The capital plan included upgrading the clubhouse, updating the audio/visual systems, curing deferred maintenance, and painting the property. Over the first two years of ownership, net operating income was increased by more than 22%.
Built in 1996, this 361-unit, 1,096 bed property is located a little more than a mile from the University of North Florida and Florida State College - Jacksonville. As one of only two student-purpose properties in the market, the District is well positioned to improve occupancy and operations. The capital improvement program includes renovating the large resort-style pool, updating the 13,000 square foot clubhouse, replacing roofs and painting 35 buildings in the complex, and completing some additional deferred maintenance. Over the first two years of ownership, net operating income was increased by more than 30%.
Built in 1991 and 1994, these two properties containing 415-units and 535beds is located walking distance to the University of North Carolina - Wilmington. As one of the best located properties in the market, was nearly 100% occupied at closing at below market rents. The capital improvement program included replacing the current clubhouse with a modern, larger one, updating exteriors, adding nine additional beds, renovating all unit interiors. Sold in 2014, the property produced internal rates of return to investors in excess of 30% over a 30 month hold.
Carl T. Olzawski is co-Managing Principal of Chain Bridge Capital. Mr. Olzawski has more than 30 years of real estate investment, brokerage, leasing, management, lending and asset management experience in commercial and multifamily real estate.
Mr. Olzawski has been responsible for originating and closing hundreds of commercial real estate loans with a loan value of over $2.4 billion. Prior to co-founding Chain Bridge Capital Partners, Mr. Olzawski was a senior vice-president and regional manager for the Washington DC/Baltimore region for Grandbridge Real Estate Capital, a mortgage banking subsidiary of BB&T Bank (NYSE: BBT). Previously, Mr. Olzawski was a senior vice-president and eastern US regional manager for Bridger Commercial Funding, a San Francisco area-based real estate financial services company where he managed the east coast CMBS origination efforts and loan sales assignments.
Before joining Bridger, Mr. Olzawski held positions as Regional Director with the Wells Fargo Bank and Goldman Sachs Grande Loan Program through AMRESCO Capital, where he originated loans for CMBS execution. Previously, Mr. Olzawski held positions with MetLife Real Estate Investments, Balcor/American Express, and with Kroger Properties, Inc. (NYSE: KOP). In his various roles, he has leased more than 1.5 million square feet of office, retail, and industrial space. Mr. Olzawski is a graduate of the University of Tulsa with major studies in Business Administration.
Richard A. Hart is co-Managing Principal of Chain Bridge Capital. Mr. Hart has more than 20 years of direct real estate development and investment experience in commercial and multifamily real estate worth more than $1.0 billion. Prior to co-founding Chain Bridge Capital Partners, LLC, Mr. Hart was a principal of Ridgeline Capital Advisors where he purchased multifamily real estate, developed single family properties, and provided real estate consulting to a variety of clients.
Previously, Mr. Hart was a Principal and Vice President of Legg Mason Real Estate Investors, Inc. (LMREI), an entrepreneurial subsidiary of Legg Mason, Inc. (NYSE:LM), and one of the largest bridge, mezzanine, and preferred equity investors in the country with a emphasis on value-add transactions. While there, Mr. Hart was responsible for originating investments for LMREI including the sourcing, pricing, structuring, underwriting, and closing of equity and debt investments. While at Legg Mason, he was directly responsible for, or significantly involved with, closing approximately $500 million of transactions. Before joining LMREI, Mr. Hart was a Director with the Prudential Financial (NYSE:PDU) subsidiary Prudential Carbon Mesa in the structured finance division. Mr. Hart was responsible for originating, pricing, structuring, underwriting, and asset managing high leverage bridge and mezzanine loan investments. While at Prudential, he was directly responsible for, or significantly involved with, closing more than $300 million of transactions.
Previously, Mr. Hart was a Capital Markets Specialist for First Union's Commercial Real Estate Group and a financial analyst for Lexington Mortgage Company.
Mr. Hart is a graduate of the McIntire School of Commerce of the University of Virginia, with major studies in Finance and Economics.