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 investments. Partners in Merrimac Ventures are currently involved in over $3 billion in projects, including Miami WorldCenter, which includes Bloomingdale's and Macy's as well as an 1,800 room Marriott Marquis MWC Convention Hotel; in Fort Lauderdale, the Four Seasons Hotel and Private Residences Fort Lauderdale, The Gale Boutique Hotel and Residences, Paramount Fort Lauderdale Beach and Las Olas Riverfront, among others.
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 hotels along Fort Lauderdale's famed A1A. With the elimination of Spring Break in the late 80's, most hotel owners in the area suffered and were either foreclosed on or left the area; 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, a vision also shared by the local community and government at the time.
Unfortunately, Bob Motwani passed away in 1994, however Ramola has continued to pursue that shared vision with a tireless determination. Under her guidance, Merrimac Ventures has continued to expand its footprint throughout the US and India.
In 2004, Ramola brought in her eldest son Nitin Motwani, who was working with Goldman Sachs at the time, to help expand the business and oversee the day-to-day operations. In 2006, her younger son Dev Motwani left his job with Credit Suisse to work with Merrimac Ventures, while Nitin focused full time on the firm's Miami WorldCenter project. Today, Ramola serves as Chairwoman and CEO of the firm and is responsible for setting its long-term goals and vision. Dev is President of the company and responsible for the day-to-day operations and oversees investments in which the firm acts as the principal. Nitin acts as a principal of the firm and is the managing partner for Miami WorldCenter.