RiverBrook Equities (RBE) is a real estate and hospitality investment firm. RBE began in the 1980s by acquiring residential buildings in the tri-state area and purchased shopping centers and industrial/commercial in the mid west. By the early 1990s RBE had accumulated one million sq. ft. of shopping center and storage property along with nearly one thousand residential units. Some of these properties were sold to a national REIT and others were sold individually in the 1990s.
Over the past fifteen years the firm expanded into the limited service hospitality arena. The initial self-service hotels were purchased within the 5 boroughs of New York. Specifically, these hotels are within a 2–3-mile radius of the JFK Airport and RBE built others in the outer boro neighborhoods of opportunity. RBE built and opened ten flagged hotels in various inter boro neighborhoods including adjacent to the Barclay Center in Brooklyn and in Long Island City. An additional hotel is under construction in the hub of the re-gentrified Jamaica. Others are in the pipeline as well. All NYC hotels are flagged by La Quinta, Comfort, Days Inn and others.
The room availability for mid scale priced hotel space is strong and there has been limited hotel development in the JFK airport area and other high-gentrified areas.
Over the last five years RBE has expanded its footprint to several other states. RBE currently operates in New Jersey, Pennsylvania and Virginia. In these areas RBE has several Holiday Inn Express properties, Town suites by Marriot and Best Western.
RBE is a fully integrated entity from purchase of land, building and management. Each hotel carries a flag in the middle rated hospitality category. RiverBrook Hospitality LLC currently operates these hotels. Based on the RBE track record of experience, completion, refinance and operations makes this product a successful model.
Additionally, RBE is currently building a $120mm luxury condo development project located at 165 Lexington Ave in Manhattan, NY and which will be over 57,000 sq. ft.
RBE Management Team:
Abe Mendel - President/CEO,
Steven Mendel - Executive Vice President/COO
Donna M Daly – Director of Hotel Operations
Sasha Devine - Regional Director and Sales Manager
Amritpal Sandhu - Construction Consultant
This team is the primary force insuring the development and profitability of each project.