On July 21, 2011, Douglas P. Wilson was appointed as Receiver of NexHorizon Communications, Inc., a cable company located in San Diego that provides digital cable, high speed internet and voice communications.
NexHorizon’s services include digital cable, high speed Internet and Voice over Internet protocol (VoIP). NexHorizon subsidiaries include NexHorizon of Colorado, Inc., NexHorizon Broadband of Southern California, Inc. and Chula Vista Cable, Ltd.
At the National Association of Real Estate Editors (NAREE) 45th Annual Conference in San Antonio, Texas June 15-18, 2011, DWC president Doug Wilson joined John Leary, Chairman, Counselors of Real Estate; Silvia Gangel, Real Estate Council of San Antonio; and moderator Suzann Silverman, Commercial Property Executive on a panel titled, “Troubled Assets: The Dark Cloud Over Commercial Real Estate”
Panelists addressed these questions, among others:
- What about the role of CMBS market and the role it’s played in this situation?
- What have been the biggest contributors to the situation, and what role has the CMBS market played in all of this?
- What problems are due to the downturn versus those that would have occurred anyway as a result of the past decade’s market—and how much are these intertwined or should they be dealt with separately?
- We’ve got plenty of “amending and extending” going on right now. How much do you anticipate this helping the marketplace, or do you see it as just postponing inevitable problems?
Listen to a 15-minute audio excerpt from the panel.
Coverage of the event was also featured in the Houston Chronicle:
“Expert Says U.S. Home Prices Likely to Keep Sliding.”
A recent article in the San Diego Business Journal titled, “Firms Busy Dealing With Distressed Properties” featured comments by DWC Chairman and CEO Doug Wilson regarding the current commercial real estate workout and pending recovery:
At San Diego-based Douglas Wilson Companies, which handles a nationwide caseload through four offices, Chairman and CEO Douglas Wilson said the lender approach
long derided within the industry as “extend and pretend” actually worked to the benefit of commercial real estate.
Rather than dump ailing properties on the market at fire-sale prices, lenders nationwide worked with property owners to modify the terms of their loans. That bought the industry time for the overall reconomy to improve, helping to raise property values and increase buyer interest as financing rates remained low.
Still, Wilson’s firm continues to handle lender-seized properties, such as shopping centers, in places like Phoenix, Las Vegas and the Midwest, where developers launched commercial projects in anticipation of serving new households that never materialized once the housing market went bust amid mortgage woes. He expects his firm’s caseload in 2011 will remain on par with 2010, although the commercial real estate financial situation nationally is still much better than it was in mid-2009, shortly after the Wall Street meltdown.
“It’s not necessarily robust, but there is a recovery going on,” Wilson said.
Visit the San Diego Business Journal website to read the full article (subscription required).