Douglas Wilson was named as Receiver on the Marriott Courtyard in Willoughby Ohio (near Cleveland). Basic facts: 3 floors, 82 rooms, 8 suites, 650 sf meeting room.
SAN DIEGO (May 19, 2010) – Problem resolution expert Douglas Wilson Companies (DWC) has appointed Thomas C. Hebrank as Senior Managing Director of the firm’s new Forensic and Litigation Support Division.
With offices in San Diego, San Francisco, Las Vegas, Miami, Orlando and Atlanta, DWC is an experienced provider of public and private litigation support services nationwide. Hebrank will oversee the firm’s expanded capabilities in handling operating businesses, government and Securities and Exchange Commission assignments, forensic accounting and bankruptcy work.
“This isn’t a new platform for us, we’ve been untangling troubled businesses, complex real estate ventures and Ponzi schemes for years,” said Chairman and CEO Douglas Wilson. “But as the economy begins to move into a recovery mode and partnerships and operating entities change formation, we think the time is right to devote more resources to this side of our business.”
Hebrank is also not new to Douglas Wilson Companies. He returns to the firm after serving in a full time capacity from 2002-2008, and most recently as an outside consultant handling specialized assignments.
A Certified Public Accountant (CPA) and Certified Insolvency and Restructuring Advisor (CIRA), Hebrank has nearly 30 years of comprehensive experience in the financial industry. His training in workout resolution began as an independent accountant and management consultant for the Resolution Trust Corporation (RTC) in the early 1990s.
“Tom has impeccable industry credentials and tremendous leadership and management experiences that will enhance our ability to grow this new division,” said Wilson.
Mr. Hebrank serves as a Director on the San Diego Receivers Forum, and is a past Director on the San Diego Bankruptcy Forum, which serve and represent the local bankruptcy and receivership communities.
He also stepped into the role of President of the San Diego City Employee’s Retirement System during a tumultuous time in the City’s history. In this role, he assisted in reforming and turning around an organization that had become the symbol of San Diego’s financial crisis. Mr. Hebrank was honored by the City of San Diego in April 2009 with a special proclamation honoring his commitment to community service and the betterment of the City of San Diego.
Douglas Wilson Companies is headquartered at 450 B Street in the financial district of downtown San Diego. For further information, call 619-641-1141 or visit www.douglaswilson.com.
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ABOUT DOUGLAS WILSON COMPANIES
Founded in 1989, San Diego-based Douglas Wilson Companies is one of the largest firms of its kind, providing a wide range of specialized problem resolution services to law firms, state and federal courts, corporations, partnerships, pension funds, REITS, financial institutions and business owners nationwide.
Services include workout and problem resolution, brokerage, real estate investments, crisis/force majeure response, asset management and business planning. To date, the company has provided problem resolution for more than 600 projects involving assets valued in excess of $12 billion.
Douglas Wilson was appointed as Receiver to protect, operate and maintain an partially completed, 39-unit business park in Corona, California.
Construction of a 400,000-square-foot office building at 1015 Half St. SE resumed on Monday, April 26, according to the receiver of the property, Douglas Wilson, owner of the Douglas Wilson Companies (DWC). Currently owned by Half Street SE, LLC, construction of the building was halted when the owner’s parent company, Opus East LLC, filed for bankruptcy in mid 2009. The property is located in Southeast Washington D.C.’s burgeoning Capitol Riverfront Business Improvement District.
A nationally known specialist in distressed real estate and court-appointed receiverships, DWC on April 23 signed a $26 million contract with Skanska USA Building Inc., of Rockville, Md., to remobilize the property’s existing subcontractor community in order to complete construction of the 10-story building by year-end 2010. Based on its innovative design, water and energy efficiencies, use and collection of recycled materials, and the installation of a green roof, the project is expected to achieve LEED Silver certification.
“This is an example of a receivership being used for a pro-active resolution of a difficult situation by completing a building and enhancing the value of the asset,” said CEO Wilson. “The completion of 1015 Half Street will boost revitalization efforts near the Washington Nationals stadium and provide much needed jobs in the area.”
The construction project includes: completion of the building’s core and shell, which was previously suspended, including the building’s glass and precast concrete exterior skin; the final installation of the building’s mechanical systems and elevators; the build-out of a two-story lobby; and the design and construction of the building’s site work and landscaping. With the core and shell now scheduled for completion, the owner of the building can focus on marketing and leasing activities.
“The 1015 Half Street office building is an important project to the Capitol Riverfront as it will represent the next wave of office space to deliver in our neighborhood and be of a size to accommodate large federal agency requirements,” said Michael Stevens, Executive Director, Capitol Riverfront Business Improvement District. “The construction start-up of 1015 Half Street signals the value that the investment markets place on the Capitol Riverfront as an office market and speaks to the value of this office building as an asset in our submarket.
“We applaud the selection of Douglas Wilson as the managers of this asset, of Skanska as the general contractor to complete the building, and of Cassidy Turley as the office broker responsible for the office leasing. The quality of this team speaks to the quality of 1015 Half Street as an office building asset in the Capitol Riverfront. We celebrate the construction start-up and look forward to the building’s completion.”
When construction started in 2008, 1015 Half St. SE was expected to provide 10 floors of rentable office space, including 21,000 square feet of ground-floor retail space, a two-story lobby, a tenant-only fitness center, three levels of underground parking and a rooftop terrace with views of the Capitol Building.
Until the property is transferred to different ownership, the receiver has retained Cassidy/Turley to perform marketing and leasing activities for the building.
Based in San Diego, Calif., Douglas Wilson Companies operates six offices around the United States, including Atlanta, Las Vegas, Miami, Orlando and San Francisco. To date, the company has provided problem resolution for more than 600 projects involving assets valued in excess of $12 billion.