RIAZ CAPITAL

Riaz Capital is an Oakland-based developer and operator of workforce housing specifically focusing on how to address the changing housing need of the millennial generation. Our goal is to profitably develop housing that anyone earning area median income can proudly call home. Our mission is to create affordable-by-design housing for the workers of the Bay Area. We see this as a strategic and sustainable place to invest resources, as the 101 municipalities of the Bay Area have failed to create an adequate supply of affordable housing.


On account of our holistic approach to design, construction, and operations, we are uniquely positioned to both rehabilitate existing buildings and develop new properties into communities that meet the needs of today's Bay Area workforce. Our integrated group of companies, development, construction, and property management, delivers efficiency and long-term thinking to all of our projects while allowing us to create above-market returns for our investors.


Our principals have been successfully operating in the Bay Area since 1977 and in the East Bay multifamily market since 1999, with our core competency being in mid-market multi-family repositioning. Currently we own and operate ~1,300 units with building sizes ranging from 6 - 127 units. At the development level, we currently employ 16 people, with a total of 60 people company-wide.
In the late 1990’s and again in the late 2000’s, Riaz Capital recognized that the economic growth in the Bay Area would lead to a change in the demographics of the East Bay, specifically Oakland. This led to an opportunity to acquire value-add properties in various neighborhoods of the East Bay and convert these buildings from dilapidation into desirable communities for entry-level professionals, Millennials, and students. This resulted in increased rents in our developed properties, averaging 100%from 2009 to 2013.


Over the past ten years, our exited partnerships have acquired $27M of property which were improved and sold for $60M with an average 3.5 year hold achieving a 36.5% internal rate of return and a 2.78x equity multiple. Our portfolio of roughly 500 units in Oakland, acquired between 1999 to 2011, would result in a 4.5x equity multiple on invested equity if sold today, and our 2012 portfolio of roughly 150 units would result in a 3.5x equity multiple on invested equity. Our firm has performed over 160 projects (residential and multi-family) including over 20 re-development projects, consisting of $70M+ in total construction volume.

WHY WE DO WHAT WE DO

Oakland has benefited directly from the region’s economic growth and is attracting an increasing portion of the region’s creative class and educated workforce. Oakland is honing its own distinct style, shopping and food scene, with a comparison to Brooklyn now well documented, most recently and notably in the New York Times in May 2014. Riaz Inc. has observed these trends directly from its vantage point managing an East Bay portfolio over 15 years.

We know this market as well as anyone and have never been more excited about its near-term growth potential. The City of Oakland is supportive of new development in the transit-accessible West Oakland, Uptown/Broadway, and Lake Merritt neighborhoods. The City has issued long-range plans for each of the areas encouraging large-scale multi-family development. We think the City’s leadership is creating a political environment that will catalyze the development process in the near-term. The Bay Area’s expanding Millennial workforce needs affordable, transit accessible small format hoC. 

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Riaz Taplin
Principal & Founder

In his early career, Riaz focused his attention on the ultra-luxury San Francisco real estate market. In 2013, one of his Pacific Heights projects set a record for highest residential property sales in San Francisco. While designing and developing over 50 high end residences in the Bay Area, Riaz also recognized an opportunity to purchase and reposition undervalued properties in Oakland. Utilizing his keen eye for design and unmatched understanding of both ends of the real estate market, Riaz set forth to transform these dilapidated buildings into a place that anybody would love to call home at an affordable price. Riaz built a network of investors and vendors to expand his footprint over the East Bay, adding value through increasing the density of units, performing seismic and common area upgrades, and completing major cosmetic renovations. Over time he grew the company into Riaz Inc. managing over $100m in assets, including over 800 apartments in the East Bay. Riaz is a board member of the San Francisco chapter of the Posse Foundation and co-chair of the American India Foundation SF Gala.

Riaz earned a B.A. in Economic History from the London School of Economics.

 

THE TEAM


  MAXIM RESCHULSKY    Chief Financial Officer

MAXIM RESCHULSKY

Chief Financial Officer

  SETH LANG VP Project

SETH LANG
VP Project

  RUSS TAPLIN    Partner

RUSS TAPLIN

Partner

  LATASHA REED    Regional Property Manager

LATASHA REED

Regional Property Manager

  CASEY HUSBAND    Acquisitions Associate

CASEY HUSBAND

Acquisitions Associate

  TEE NGUYEN    Project Accountant

TEE NGUYEN

Project Accountant

  Jaquelin Morrone    Asset Management Associate

Jaquelin Morrone

Asset Management Associate

  ARIEL BOYCESMITH    VP Operations & Community Affairs

ARIEL BOYCESMITH

VP Operations & Community Affairs

  JONATHAN LAW   VP of Development

JONATHAN LAW
VP of Development

  BORA CHUNG    Community Manager

BORA CHUNG

Community Manager

  JUN LU    Property Administrator

JUN LU

Property Administrator

  KRISTINA STELMASHCHUK    Administrative Assistant

KRISTINA STELMASHCHUK

Administrative Assistant

  REEMA ASKAR    Senior Management Accountant

REEMA ASKAR

Senior Management Accountant

  PAXTI COLBERN    Associate

PAXTI COLBERN

Associate

Sharon Villa

Executive Assistant

  PAUL DICARLO    VP of Acquisitions/Partner

PAUL DICARLO

VP of Acquisitions/Partner

  COLIN MARCHESINI   Project Manager | Branding And Design

COLIN MARCHESINI
Project Manager | Branding And Design

  JOSEPH BETESH   Controller

JOSEPH BETESH
Controller

  BRETT THOMAS    Analyst

BRETT THOMAS

Analyst

  BRIAN CHADWICK    Real Estate Associate

BRIAN CHADWICK

Real Estate Associate

  RICHARD CHOI    Property Level Accountant

RICHARD CHOI

Property Level Accountant

  ANA DOBRETSOVA    Executive Assistant

ANA DOBRETSOVA

Executive Assistant


DEVELOPMENT

The Bay Area is an amazing place to work and live.  Along with our Asset and Property Management teams, we are working on a number of very exciting adaptive reuse and ground-up projects that provide for current and future residential, transit-oriented, shared working, and workforce housing trend.

 

ASSET MANAGEMENT

With over $300 million in assets under management, our Asset Management department specializes in mid-market multi-family acquisitions in the East Bay and luxury developments in San Francisco.

Our projects and funds have generated returns that are significantly above market with an average 36.5% IRR and 2.78x equity multiple to investors from our exited partnerships.

PROPERTY MANAGEMENT

Riaz Capital currently holds a dynamic portfolio of over 65+ apartments in the east bay with buildings ranging from 6-120 units.

Our entrepreneurial investment approach over 40 years consistently places Riaz Capital at the forefront of Oakland’s revitalization efforts and the East Bay multi-family housing market by identifying up-and-coming neighborhoods.

 

REAL ESTATE CONSULTING

Our Real Estate Consulting department offer clients a wide variety of general consulting services related to our clients' individual real estate needs. These include advising on existing real estate holdings, analysis of potential acquisitions and optimization of our clients' real estate portfolio by leveraging our fully intergrated team and extensive network of real estate experts.

HOW DID WE GET HERE? 1977-2018

  • Condo Conversions in 70's and 80's

    Russ Taplin converted roughly 400 units to condos from 1977-2000 though opportunistic pursuit of condo conversion permits and thorough understanding of the conversion process in its infancy.

  • Multifamily Acquisitions in 1999

    In 1999, Russ and Riaz started acquiring Multifamily Buildings in San Franciscoand Oakland growing the portfolio to 150 units by 2003 while managing every aspect of property operations from collections to repairs themselves.

  • 2003-2008 High End Development

    Riaz began developing homes in San Francisco growing to $18M in revenue and 80 field workers at its peak with 20 projects completed.

  • 2008-2011 Crisis Management

    Growing MF Portfolio

    Instead of selling buildings through the downturn, Riaz sought opportunities and acquired an additional 317 units from distressed sellers through creative transaction structures.

 
  • 2010-2016 Riaz Design + Riaz Build

    Riaz converted his development flipper model to a full service business generating $22M in revenue with a 20 person team running 30 projects at a time from demo to move in.

  • 2011-2017 Syndication Years

    Raised outside capital to accelerate our footprint over Oakland. Increaded building value through common area upgrades and seismic work to raise tenant profile and rents.

  • 2013-2017 Fund years

    Formed and raised $10M for EBMF Fund which purchased and rehabilitated six multifamily buildings in Oakland.

  • Fully Integrated Dev Company

    Currently we own and operate over 1,200 units with building sizes ranging from 6-179 units. Our excited partnerships have acquired $27M of property which were improved and sold for $60M with an average 3.5 year hold achieving a 3.6% interanal rateof return and a 2.78x equity multiple.

 

SAN FRANCISCO HQ

1000 Brannan Street, Suite 402
San Francisco, CA 94103
F  415 675 1978

OAKLAND HQ

2744 E 11th Street
Oakland, CA 94601
O 510 982 0634
F 510 225 3927

info@riazinc.com

ENQUIRIES 

New Projects
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Public Relations
pr@riazinc.com

Job Applications
jobs@riazinc.com

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