Over three decades ago, Scott Dew left his position as the managing partner of a law firm to join Rubin Pachulski Properties, which was then renamed Rubin Pachulski Dew Properties. Scott served as Co-President of that company for five years until he and Richard Pachulski, a nationally prominent corporate bankruptcy lawyer, founded RPD Catalyst (“RPD”). During the last 25-plus years, Scott, as CEO, and Richard, as CIO, have led RPD’s acquisition of $612 MM and 8.07 MM square feet of residential, retail, office and industrial properties across 15 U.S. states and 31 markets.
Scott Dew and Richard Pachulski rely on relationships developed over the last 30 years to uncover value-add or opportunistic investment opportunities. Many of these relationships are with real estate professionals, lawyers and investment bankers. This broad base of relationships allows Scott and Richard to find opportunities of which other investors are unaware.
Scott and Richard rely on their seasoned management team to assist in the due diligence on new acquisitions, participate in developing and implementing turnaround plans for each property, and monitor the performance of each asset. Key members of the senior management team are Colleen Hanlon, General Counsel, Elliot Pachulski, Head Underwriter and Asset Manager, and Lori Benjamin, Investor Relations. The senior managers have worked at RPD for an average of 15 years.
RPD focuses on well-located properties in growth markets that are underperforming due to mismanagement, constrained capital, poor marketing and/or outdated improvements. Through focused, hands-on management at a granular level, RPD executes its turnaround plans for acquired properties, replacing onsite personnel, implementing leasing strategies and renovating the property.
Explore our properties
Vineyards
7263 Jones Road, Springdale, AR 72762
The Vineyards, a 135-unit apartment community built in 2004, is located in Springdale, Arkansas, one of the four major cities in Northwest Arkansas, home to Walmart, J.B. Hunt and the University of Arkansas. Despite the fact that The Vineyards was only 10 years old when RPD acquired it, the property was suffering from deferred maintenance. Over an 18-month period, RPD replaced the management and maintenance staff, painted the building exteriors, added landscaping, renovated the leasing office, added a fitness center and upgraded the units with faux wood flooring, faux granite counters, new lighting and two-tone paint. These upgrades and a favorable market have allowed RPD to increase the rents by over 90%.
Plaza La Cienega
1801-1843 S. La Cienega Blvd., Los Angeles, CA 90035
An RPD affiliate, RP Realty Partners (“RP”), initially acquired a ground lease for this 328,000 square foot community center and later acquired the fee simple parcel. Positioned along La Cienega Blvd. with “hard corners” at the intersections of Sawyer St. and W. 18th St., an average of 73,000 cars drive by the center each day. The strong location has allowed RP to upgrade the quality of the tenants and created a balanced tenant mix with Target, LA Fitness, Smart & Final, Big 5, Ross, Dollar Tree, O’Reilly, CVS, El Pollo Loco, McDonald’s and Coffee Bean & Tea Leaf.
Preston Creek
8300-8412 PReston Road, Plano, TX 75024
RPD acquired this Class A shopping center on Preston Road in north Plano, because it was great real estate at a reasonable price. This 80,000 square foot center caters to fast-food and fast-casual restaurants and personal service providers. An average of 60,000 vehicles per day drive by the center. Within a three-mile radius, the average household income exceeds $140,000, and the average home value exceeds $400,000.
Bend River Promenade
3188 N Hwy 97, Bend, OR 97701
When RP acquired this 300,000 square foot community center, the property had an indoor mall. RP converted most of the mall space to big-box retail, replaced Sears with Hobby Lobby and TJ Maxx, expanded Macy’s, and created two outparcels. RP did a build-to-suit for Kohl’s on one outparcel and groundleased the other outparcel to AutoZone.
Park Oaks Shopping Center
16602-16668 San Pedro Ave., San Antonio, TX 78232
RPD acquired a vacant 55,000 square foot supermarket from one owner and the adjoining, partially vacant 125,000 square foot community center from a second owner. In less than two years, RPD increased the occupancy from 45% to over 90%. Over the last few years, RPD has focused on creating a strong tenant mix of fast-food, fast-casual food, fitness, pickleball, yoga, a national dollar store and personal services.
Westgate Shopping Center
7311-7325 San Pedro Ave., San Antonio, TX 78216
This 47,000 square foot specialty center is located at one of the strongest retail locations in San Antonio. RPD acquired Westgate from a local owner who was concerned about its struggling anchor tenant, a 33,000 square foot music store. As soon as RPD entered into a contract to purchase the property, it started negotiating with Guitar Center to lease the 33,000 square foot space. Shortly after closing, RPD signed a 10-year lease with Guitar Center at a substantially higher rental rate than the failing music store was paying. Other tenants in the center include Starbuck’s and Jimmy Johns.
Hacienda Square
700 N. Johnson Ave., El Cajon (San DIego), CA 92020
This 30,000 square foot center was owned for decades by a local investor who was more concerned with occupancy than rental rate. Consequently, several of the leases have under-market rents. In addition, although the center has been well maintained, the siding and paint scheme make the center look dated. RPD recently acquired this property and is in the process of implementing upgrades, and RPD will be looking to increase the rents as leases roll over. The tenant mix, which includes apparel, a restaurant, FedEx, and a barber, is well-suited for middle-class shoppers who live in the area.
Exchange Plaza
5819 I-410 Loop, San Antonio, TX 75243
RPD acquired this 144,000 square foot community center after Circuit City and Ross, two of three anchor tenants, announced they were vacating. After renovating the shopping center’s façade, RPD leased the departing tenants’ space. The current tenants include a fitness club, a trade school, an entertainment venue with billiards and other games, a deli and an Asian restaurant.
