September 2010

Doug Wilson is speaking on two panels on today at the IMN Bank & Special Asset Executive Forum on Distressed Real Estate:

The Economy & Its Impact on Real Estate Workouts & Banks

Session Chair: John Cuticelli, CEO, Sheldon Good & Co.
Richard Hollowell, Managing Director & Real Estate Practice Lead, BBK
Douglas P. Wilson, Chairman/ CEO, Douglas Wilson Companies
Yelena F. Takhtamanova, Economist , Federal Reserve Bank Of San Francisco
Robert Sheridan, President, Robert Sheridan & Partners, LLC
Robert Kline, Principal / CEO, R.W. Kline Companies

Receivership: Will It Be Like Be Like Rolaids And Spell Realistic R-E-L-I-E-F For Distressed Assets?

  • Does using a receiver subject you to successor liability?
  • Sale through a receiver
  • Is using a receiver an option for increasing the value of the property in lieu of a sale at an expected higher price in the near future?
  • Balance sheet impact
  • Effect of foreclosure redemption period
  • Managing properties with heightened liabilities

Session Chair: Andrew Raines, Senior Partner, Raines Law Group, LLP
Phillip J. Bond, Executive Vice President/Chief Credit Officer, Beach Business Bank
Douglas P. Wilson, Chairman/ CEO, Douglas Wilson Companies
Robert C. Warren Iii, President, Investors’ Property Services
Robert C. Watts, Vice President-Director Of Asset Disposition, Pacific Western Bank

More information can be found at the IMN Event Page

Douglas Wilson, owner of Douglas Wilson Companies (DWC), has been appointed receiver for Laurelwood LLC, a 24-unit condominium building approximately 75 percent complete in Studio City.

“This is an attractive property, nicely appointed and excellently located within a desirable area,” said Douglas Wilson, CEO of Douglas Wilson Companies. “Some of the units have great views of the valley.”

The scope of the receivership includes a review of the insurance coverage and preservation of the $11 million property. Resolution is expected to be complete before the end of the year.

Based in San Diego, Calif., Douglas Wilson Companies operates six offices around the United States, including Washington, D.C., 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.

Douglas Wilson Shows Confidence in Downtown San Diego

SAN DIEGO, CA  (Sept. 1, 2010) – 1620 Fifth Avenue LLC announced today the purchase of the nine-story, 80,320-square-foot Robert F. Driver Building located at 1620 Fifth Avenue in downtown San Diego.  Douglas Wilson Companies (DWC) has been engaged to lead the reposition, management, and leasing effort to reintroduce this well-known downtown office building.

“This is an exciting purchase, a reaffirmation of our commitment to the longevity of the economy of San Diego,” said Douglas Wilson, CEO of Douglas Wilson Companies. “Just as we recognized the real estate potential of the Ballpark District, we want to be ahead of the resurgence of commercial office space in downtown San Diego.”

DWC has been a presence in downtown San Diego for more than 20 years with the development of high-profile properties such as Symphony Towers and Park Loft.  That local knowledge combined with a resume of managing more than 25 million square feet of commercial space made DWC the most logical choice to help turn around this property.

Built in 1985, the building served as corporate headquarters for the Driver Insurance Company until early 2007. Prominently located adjacent to Interstate 5, the building features a six-level parking garage, 360-degree building-top signage, glass façade and quick access to Interstate 5 north and south.

Based in downtown San Diego, Calif., DWC is a nationally recognized real estate firm operating out of six offices across the United States, including Las Vegas, Miami, Orlando, San Francisco, and Washington, DC. To date, the company has been involved with more than 600 projects coast-to-coast with assets valued in excess of $12 billion.

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ABOUT DOUGLAS WILSON COMPANIES

Founded in 1989, Douglas Wilson Companies is one of the largest firms of its kind, providing a wide range of specialized business and real estate services.Services include workout and problem resolution, forensic accounting and litigation support, joint venture investments and development, small business support, brokerage, asset management, crisis/force majeure response, entitlement and construction management.  In addition, Douglas Wilson Companies has a principal real estate investment group focused on distressed opportunities in the Western United States.

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.