About the Dwares Group
Since 1975 the Dwares Group have organized and operated real estate ventures. Specifically we purchase commercial real estate in the best locations of smaller cities in western states. We invest funds into the properties in order to add value. The Dwares Group works with outside investors, but the largest investor is the Peter Dwares Irrevocable Family Trust, established in 1990.
- We buy real estate assets that the seller is tired of dealing with, or needs to sell to complete a tax-free exchange
- Add value to the property through restoration, new construction, management changes and new leasing.
- Hold and refinance our equity out. We focus on increasing net worth of our investors rather than distributions, following Warren Buffet as a model, never sell if its good.
We believe there is great reward with less risk in an enhancement of an existing property by remodeling and adding new building without pressure.The Dwares Group primarily looks for well located properties in smaller cities priced from $3,000,000 to $20,000,000 which have potential for significant appreciation over a five-to-fifteen year period.
While the future will not be the same as the past, an investment of $200,000 with us in 1975 is now worth $50 million, an IRR of over 24%.
Our Uniqueness
We offer a tangible investment. Our investors enjoy all the benefits of buying undervalued real estate and watching it being improved, while being free of the responsibilities of development or property management. To find one good development, we look at hundreds of offerings.
Summary
What we have learned
after thirty plus years in developing commercial real
estate:
- Buy in good niche locations.
- Buy to add value.
- Find under-leased properties (mostly retail) that already have existing cash flow and increase it.
- Beware of environmental problems, and over regulated cities.
- Sometimes buy for all cash.
- Sometimes leverage highly.
- Get favorable long term fixed financing.
- Control and manage closely.
- Be patient.
- Most important, work with the best people you can find, managers, architects, contractors and keep them happy.
Founder/CEO
Peter Dwares began his professional career as an attorney with the Securities and Exchange Commission in Washington, DC, in the Division of Corporate Finance and later in private practice of Securities and Business Law from 1971-1985, having founded Dwares, Chase and Lerner Law Offices. He has been buying, restoring, and developing real estate, since 1975.Mr. Dwares holds a Bachelor of Economics Degree from the Wharton School, University of Pennsylvania. He has a J.D. degree from American University Washington College of Law, where he was a Law Review Editor. Additionally, he holds a Master’s degree in Taxation from Georgetown University Law Center.
Vice President
Andrew South is responsible for managing the properties and supervising brokerage operations, including leasing. Andrew South has extensive experience in retail and office leasing and commercial brokerage. Previous experience included the field of banking as a corporate lending officer at Bank of America. He obtained his MBA from the University of Southern California and has real estate licenses in California, Washington and Oregon.
Mr South has been working with the Dwares Group since 1980.
Staff Management
Grace Long is the Executive Assistant to Peter Dwares. She studied at Maryknoll College (Philippines) taking Bachelor of Arts in International Studies, graduating in 1988. Prior to her working for Dwares Group she worked in Manila as a manager for Disu Company. She has worked for Dwares Group since 1995 as Executive Assistant to Peter Dwares.
Advisors and Associates
Irwin/Fisher, Contracting
Matt Peek and Dana Merker, Architecture
Dennis Norton, Design
Jay Jeffers, Design
Larry Smith, C.P.A., Accounting
Paul Shapiro, Paul Shapiro Real Estate Research
Alan Nevin, Real Estate Economist
John Harrington, Former Senior Tax Partner of Price Waterhouse & Co., Inc.
George Marcus, CEO Marcus & Millichap
Charles Ott, Insurance Executive
Norman Krug, President, Krug Hotel Group
Ron Hirsch, President, Hirsch and Associates
Myron Zimmerman, CEO, Zimmerman Investments