February 2010

DWC Receivership in Cincinnati

by DWC Team on February 16, 2010

Colerain Township

DWC is appointed as Receiver for a nearly 1 million square-foot retail shopping center in Colerain Township, Cincinnati, Ohio.

Northgate Mall is an indoor 1.1 million-square-foot Feldman Mall Property. Located at 9501 Colerain Avenue in Cincinnati, OH, the mall is today anchored by Sears and Macy’s, following the closure of Dillard’s late last year.  Built in 1972, the mall has been renovated over the years, most recently in 2006. DWC is overseeing the uninterrupted operation of Northgate Mall as it prepares to market and sell the property.

Clean-up and enhanced on-site management presence expected to boost occupancy, facilitate sale

SAN DIEGO, CA (Feb. 11, 2010) – Douglas Wilson Companies (www.douglaswilson.com) has been named court-appointed receiver for the 193-unit Nautica Apartments in St. Petersburg, Florida.

“The property has tremendous potential to realize greater value for its owners,” said CEO Douglas P. Wilson. “By dealing with deferred maintenance issues immediately and installing proactive professional management and marketing, we will stabilize and ultimately upgrade the asset for disposition by the lender.”

DWC’s new professional management team, The Continental Group, will supervise thorough cleaning and repair work, including replacement of appliances, carpeting and landscaping where needed.

Based in San Diego, Calif., Douglas Wilson Companies specializes in distressed real estate and court-appointed receiverships, with six offices around the United States, including Atlanta, Las Vegas, Miami, Orlando and San Francisco.

• New finance director to focus on East Coast portfolio

SAN DIEGO, CA (Feb. 3, 2010) – National problem resolution and real estate services firm Douglas Wilson Companies (www.douglaswilson.com) is beefing up its East Coast presence with a new finance director.

Wendy A. Hudson recently joined the company’s Atlanta office and will focus her accounting skills on Eastern properties valued at more than $404 million. The DWC East Coast portfolio includes Opus’ Half Street and 100 M Street in Washington D.C.; the National Oceanic & Atmospheric Administration Laboratory at the University of Maryland; McCar Homes of Atlanta; and Nautica Apartments in St. Petersburg, Fla.

“Demand for our specialized services, especially in distressed real estate and court-appointed receiverships, continues to grow nationwide, and financial experts with Wendy’s skills are key to our continuing success,” said CEO Douglas P. Wilson. Based in San Diego, Calif., Douglas Wilson Companies has six offices around the United States, including Atlanta, Las Vegas, Miami, Orlando and San Francisco. “Wendy’s accounting background, including budgeting, forecasting and banking and investor relationships, will serve our growing roster of clients well.”

Hudson’s primary responsibilities include: prepare cash flow projections, financial reporting and analysis regarding all types of real estate; advise both legally and financially regarding homeowner’s associations; manage forensic accounting projects, receiverships, and real estate consulting assignments.

Prior to joining Douglas Wilson Companies, Hudson worked as finance manager at McCar Homes Inc. During her eight years there, Hudson was promoted twice and gained a broad base of accounting experiences, including: cash flow models, budgeting and forecasting, financial reporting and analysis, distribution schedules, capital procurement, general ledger and account reconciliation.

Hudson earned her Bachelor of Science degree in finance from Tennessee Wesleyan College, where she was a four-year academic/athletic scholarship recipient. The softball player received an NAIA Academic All-American Award as well as the college’s Athletic Director’s Award.

Wendy A. Hudson recently joined the company’s Atlanta office and will focus her accounting skills on Eastern properties. The DWC East Coast portfolio includes Opus’ Half Street and 100 M Street in Washington D.C.; the National Oceanic & Atmospheric Administration Laboratory at the University of Maryland; McCar Homes of Atlanta; and Nautica Apartments in St. Petersburg, Fla. Hudson’s primary responsibilities include preparing cash flow projections, financial reporting and analysis regarding all types of real estate; advising both legally and financially regarding homeowner’s associations; and managing forensic accounting projects, receiverships, and real estate consulting assignments.

Prior to joining Douglas Wilson Companies, Hudson worked as finance manager at McCar Homes Inc. During her eight years there, Hudson was promoted twice and gained a broad base of accounting experiences. Hudson earned her Bachelor of Science degree in finance from Tennessee Wesleyan College, where she was a four-year academic/athletic scholarship recipient. The softball player received an NAIA Academic All-American Award as well as the college’s Athletic Director’s Award.