President and CEO of the Greater Fort Lauderdale Convention and Visitors Bureau, speaking to the Miami Herald in 2020
Merrimac Ventures is a Real Estate investment and development firm located in Fort Lauderdale, FL. Its primary focus is on prime resort and mixed-use development but also has extensive investments in multi-family residential, condominiums, retail and office. While Merrimac Ventures began its journey in South Florida, it has substantially expanded its holdings into a national footprint.
Partners in Merrimac Ventures are currently involved in over $3 billion in real estate development projects, which are transformational, building communities and advancing cities. The Merrimac Ventures story is one of triumph over adversity and how the vision and hard work of the Motwani family transformed a city.
Started in the late 70’s by the late Ramesh “Bob” Motwani and his wife Ramola Motwani, the firm initially began as an import/export business in St. Charles, MO. In the mid-1980’s, Merrimac Ventures expanded into the hotel business by purchasing their first hotel along Fort Lauderdale’s famed A1A strip. With the elimination of Spring Break in the late 80’s, most hotel owners in the area either suffered foreclosure or were forced to leave; however, Bob and Ramola continued to acquire properties with a common vision of redeveloping and transforming the Fort Lauderdale Beach into a world-class resort destination.
Unfortunately, Bob Motwani passed away in 1994, however, Ramola continued to pursue that shared vision with a tireless determination, designing and entitling her first project single-handedly in a tough political climate. She formed strategic partnerships with developers, enabling her to build her first large, luxury condo hotel.
As could be expected, Ramola had passed her entrepreneurial skills to her sons, Nitin and Dev, who combined these skills with their Wall Street pedigrees and launched the company into unprecedented growth, expanding the company’s development portfolio into hotels, condominiums, luxury apartments and complex mixed-use projects. The company further acquired commercial office assets, retail holdings and a 500-home single-family portfolio in Atlanta.
Under the guidance and direction of Dev and Nitin Motwani, Merrimac Ventures continues to expand its footprint beyond Florida, amassing holdings throughout the mid-Atlantic and southern states. Their strategic vision and dedication to excellence has positioned the company for success long into the future.