December 2010

Court-appointed receiver Douglas Wilson, owner of San Diego-based Douglas Wilson Companies (DWC), announced recently the sale of Evergreen Estates. The purchase price for the 118-acre development in Banning, Calif. was $3.8 million. The seller was US Bank.

“There were several challenges to be overcome in the negotiating of this deal,” explained Douglas Wilson, CEO of DWC. “The property included lots in various stages of improvement, and there were complexities with some of the conditions of approval. In addition, we needed to oversee transitioning streetscape planting to the city’s landscape maintenance district, ongoing maintenance of regional storm water determine basin and challenges to the existing finishes.”

Featuring an approved tentative map for 302 single-family residential lots, Evergreen Estates inventory includes six furnished model homes, three completed production homes, 56 improved lots and 215 paper lots. Twenty-two homes within the development were previously sold by the original builder.

Based in San Diego, Calif., Douglas Wilson Companies operates four offices around the United States, including Washington, D.C., Las Vegas and San Francisco. To date, the company has provided problem resolution for more than 600 projects involving assets valued in excess of $12 billion.

SAN DIEGO (Dec. 1, 2010) – Douglas Wilson, owner of Douglas Wilson Companies (DWC), has been appointed receiver for Glynn Place, a 196,000-square-foot regional mall in Brunswick, Georgia. Merchants include a mix of national, regional and local retailers. Anchors Sears, JCPenney, Belk and Embassy Suites Hotel are not part of the receivership collateral.

“Our first priority is to stabilize the asset and conduct due diligence to determine the best outcome for the mall,” said Douglas Wilson, CEO of Douglas Wilson Companies. Wilson has been appointed to manage and operate the mall and has continued the engagement of Jones Lang LaSalle for management and leasing services.

“Jones Lang LaSalle was chosen to lease and manage the property because of its outstanding reputation in managing retail assets and helping to increase net operating income,” Wilson explained. “Glynn Place is open for business, as usual, and we do not expect any operational interruptions to the mall. Consumers should find their holiday shopping experience here as enjoyable as ever.”

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.