Rick Aidekman's Philosophy
Rick Aidekman has over 25 years of experience in New York City, He has developed significant strong connections among owners and top brokers. Through these relationships Rick has been able to source off market opportunities. He never follows the pack in pursuing what appears to be "hot" at the time. Rick's investment philosophy is in pursuit of cash flow.
Rick Aidekman and his partners built a portfolio of apartment buildings in NYC containing over 8,000 apartments in 167 properties with Prudential, Trust Company of the West, Oaktree Capital and several high net worth individuals. The properties were sold and created an average IRR of over 20% typically over a 4-7 year period. Rick is now focused on hotel, apartments, and assisted living opportunities for both the acquisition of existing properties and ground up development.
Rick Aidekman learned much of his philosophy of business from his father Sam. Sam was a hard working self-educated man. He was known for his incredible creativity in marketing and sales.
Rick learned about the world of finance, economics and law from his education at the Wharton School, Rutgers, Newark School of Law and NYU Law School
Rick received his practical experience in real estate and business from his many years of building a real estate business from scratch into a major player in the NYC multi-family arena. He also created a well respected Spa and Skin Care brand with his wife, from scratch.
My Father Sam:
Sam started his career at the ripe old age of 14 by creating a produce stand in front of his dad's dairy farm in Irvington, New Jersey. He ultimately built his first supermarket, a gigantic 10,000 square foot store on the same site; gigantic for it's time. Innovations included the first frozen food products; the first conveyor belt system to bring groceries from the basement and even an empty bottle cleaning machine for returned glass bottles. People came from far and wide to see this wonder. Sam was one of the founders of Shop Rite supermarkets and built his own store ownership to a chain of 18 supermarkets, with its own warehouse. See separate section on Sam's wisdoms.
Rick Aidekman is a graduation of the Wharton School of Finance and Economics earning a Bachelor of Science in Economics. At the Wharton School I majored in Finance and received one of the finest educations possible in the fields of Finance, Economics, Statistics, Marketing, with some of the most well respected educators in these fields.
I followed this with a Juris Doctor at Rutgers School of Lsw in Newark, N.J. where I not only studied the basics of law, but also learned about partnerships, corporations and taxes. I supplemented this legal education with two years of tax law at NYU Law School.
Rick's Business Experience
In 1986, after a few years of practicing law, both at Olshan, Grundman and Frome and Hahn and Hessen, Rick Aidekman worked as in house counsel for Red Apple Companies. I learned about real estate transactions from a legal point of view and then from an owner's point of view. With these experiences, I set out with a partner to acquire small apartment buildings in New York with friends and family as investors. Ultimately, after having run out of friends and family with capital and having acquired close to six hundred apartments, we were able to partner with major financial institutions, such as Prudential, Trust Company of the West, Oaktree Capital and the Oregon State Pension Fund, allowing to grow our portfolio to over 8,000 units. My role was to acquire the properties, obtain the capital of both equity and debt, to run the financial operation of the business, while my partner ran the day to day operations.
More about my founding and building the Cornelia Brand with my wife elsewhere on this site.
Would Like to hear from you
As I am working on a number of current opportunities, don't hesitate to contact me if you are interested in investment/Joint Venture, or just a friendly discussion