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Hotel Brexton, Inn at the Colonnade hit market

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Hotel Brexton, Inn at the Colonnade hit market

The owner of Hotel Brexton and the Inn at the Colonnade has put 10 properties in his portfolio on the market as he plans to retire and sail around the world.

Richard W. Naing, 66, said he expects to sell to multiple buyers and doesn’t have a target number for the the properties, which include a downtown office building, a group of 16 apartments on St. Paul Street, an Ocean City condo and an Eastern Shore courthouse, in addition to the hotels. He hopes to complete the transactions by the summer.

Naing, the president of RWN Development Group, said he may decide to hold onto the money-making Colonnade, which is close to the Johns Hopkins University Homewood campus. He’s also open to joint ventures, but the goal is to effectively retire.

“I think it’s time for me to hang it up and enjoy myself,” he said.