May 2018

Spring 2018 Newsletter

by admin on May 31, 2018

This article is featured in the Spring 2018 Newsletter. To view the full newsletter click here.

HOW DO YOU TRANSITION YOUR ASSETS?

Trillions in real estate legacy wealth, are now in play, as the baby boom population ages out of its “wealth accumulation” phase into its “wealth transition“ process.

DWC is now assisting some of California’s most prominent families to proactively anticipate and resolve business issuesspecific to their real estate wealth. Acting asa real estate resource, DWC is very careful not to displace the family’s legal or otherfiduciary/financial advisors.

Having served as a court-appointed fiduciaryfor decades, the DWC team is highly sensitiveto loyalty and confidentiality issues that areunique to legacy clientele. Understanding that the illiquidity of real estate wealth creates distinct issues, we also recognize the inclination to maintain it in the same species of legacy asset.

Based on our deep real estate experience,in all cycles, we have identified two distinctphilosophies in preserving and enhancing a legacy portfolio:

THE “AS IS” APPROACH
The focus is purely on cash flow preservation with limited redirection or application of new capital or reconfiguration of the asset base. This philosophy implements an ongoing attempt to keep operational costs low, avoiding tenant turnover, and suppressing property tax reassessment by minimal capital improvement to the property. Typically these portfolios consist of B and C classes where this is acceptable.

THE VALUE ADD / ENTREPRENEURIAL APPROACH
To improve portfolio value through a combination of new capital investment and active repositioning through a mix ofre-tenanting, re-entitling, refinancing orreallocation of assets. Typically, these legacy portfolios consist of more varied assetsincluding but not limited to class A buildingsand properties in the path of redevelopment.

Each portfolio is unique to its own attributes and characteristics and to the philosophy of the family. DWC is careful to collaborate with stakeholders and their advisors to appropriately create options and to ultimately transition real estate assets to the acquiring generation.

For inquires please contact John L. Morrell.

This article is featured in the Spring 2018 Newsletter. To view the full newsletter click here.

Scams & frauds tend to flourish during good times. Returns flow in nicely, camouflaged by overall economic prosperity, soaring markets & record realestate values. Red flags may go unnoticed until it’s too late.

Since 1990, DWC has untangled a number of frauds and Ponzi schemes in its role as a court-appointed Receiver. These crimes don’t just hurt individuals, families and businesses, but cause great harm to the wealth and resources of the nation.White Collar Crimes, Historical Graph

“Recently, the dept. of justice charged eight individuals for manipulating futures markets and brought the largest futures market criminal enforcement action in history.”

As today’s frothy economy starts to inevitably abate, DWC is gearing up for an uptick in the discovery of white-collar crime.

Large-scale financial fraud in health care is of particular concern, with Medicare and Medicaid malfeasance in the crosshairs of federal prosecutors. Likewise, we see criminal justice resources focusing on opioid fraud and abuse detection.

Also emerging as a threat to the integrity of the country’s financial system is the illegal manipulation of securities markets. Some of the most damaging cases involve a scheme called “spoofing”: the illegal practice of placing an order for a futures contract that the trader does not intend to execute.

Earlier this year in San Diego, Deputy Attorney General Rod Rosenstein addressed the American Bar Association’s National Institute on White Collar Crime who spoke on such issues. DWC was honored to attend as newly inducted members of the National Association of Federal Equity Receivers (NAFER).

This article is featured in the Spring 2018 Newsletter. To view the full newsletter click here.

With DWC’s long heritage working on complex real estate matters on a national basis, the current focus to expand our advisory services platform is a natural evolution for the firm. Our clients have varied over the years and have included family offices, REITs, private foundations, banks, special servicers and private equity firms. Upon historic review, we have found that the following three areas are at the center of most assignments.

ENTITLEMENTS
The ability to navigate the increasingly complex process of securing and/or preserving entitlements is the foundation of any real estate project. Great value is created (especially in California) when entitlements are approved which is typically a long process that combines the ability to manage a process that often involves a dozen different city, county and federal agencies. Additionally, local planning groups are often a key part of the process as their support helps on all levels from staff support to political endorsement.

ENVIRONMENTAL
There are few projects that do not have some form of environmental issue. This is particularly relevant on urban properties that are in the path of new development. Our extensive experience with coordinating the proper professionals to evaluate an environmental situation and devise and monitor the appropriate remediation plan continues to be an active part of our advisory services.

NAVIGATING AGENCIES
An active part of the majority of our assignments has been the ability to coordinate the variety of governmental agencies that are often involved in our assignments. Understanding how to deal with the various agencies requires the ability to respect their process but to remain focused on achieving the desired end result.

For additional information on DWC’s Advisory Services, please contact Douglas Wilson.

Sienna At Otay Ranch – An Upmarket Senior Housing Community

May 30, 2018

This article is featured in the Spring 2018 Newsletter. To view the full newsletter click here. For the past few years, DWC has been creating new business platforms to respond to opportunities created by the aging population: America’s “silver tsunami.” In addition to its Legacy Asset Management division, DWC has introduced a new series of upmarket senior […]

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Spring 2018 Real Estate Transactions

May 30, 2018

DWC’s brokerage team remains focused on brokering unique assets for public and private entities. These recent transactions illustrate the team’s capabilities in sell/leaseback, tax-deferred, multi-market property exchanges. Sell/Leaseback Industrial Complex San Diego, California Recently SOLD! DWC brokerage worked with one of San Diego’s premier arts organizations to handle a sell-leaseback on a 37,316-square foot building, […]

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Connecting: DWC Team on the Move

May 30, 2018

This article is featured in the Spring 2018 Newsletter. To view the full newsletter click here. DWC CEO Douglas P. Wilson and President John L. Morrell have been formally inducted into the National Association of Federal Equity Receivers (NAFER), an elite organization for receivers and legal counsel dealing with remedies for white-collar crime that are subject to […]

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2018 Spring Newsletter: CEO’s Message

May 30, 2018

This letter is featured in the Spring 2018 Newsletter. To view the full newsletter click here. Dear Friends, As we finish the second quarter, our focus continues to be on opportunities and challenges presented by the aging population. We are busy meeting with families (and businesses) now grappling with the imminent transition of legacy assets, much of […]

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May Events

May 1, 2018

North County Estate Planning Council (NCEPC) – May 1 NCEPC held its monthly meeting in Rancho Santa Fe, California. Douglas Wilson attended. National Hotel Finance & Investment (NHFI) Conference – May 7-9 NHFI hosted its 2018 Meet the Money® Conference at the Hyatt Regency LAX Airport in Los Angeles, California where the focus was hotel […]

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