A partially finished work-live condominium complex with 38 units located in the Los Angeles Art District.  Originally built as a warehouse for the Spreckels Brothers Sugar Company, this 57,703 square foot building was redesigned as a three story complex, with parking on the first story and loft-style townhomes on the remaining two.

Project Description

Douglas Wilson Companies (DWC), agent for Receiver,  was charged with managing the property and completing construction.

Scope of Work

DWC’s responsibilities included negotiating all mechanics’ liens, extending the vesting tentative map, obtaining a building permit extension, advising on mold, HOA, and easement issues, compiling a cost-to-complete construction budget and bringing the building to sale-ready condition. Once the scope and cost to complete construction was presented to the parties, it was determined that construction would not proceed. From there DWC worked to maintain the accounts necessary to protect the property, such as security, utilities and insurance.

Project Resolution

The property was sold and the Receiver was successfully discharged.

Project Name

Barn Lofts

Client

Superior Court of the State of California, Los Angeles County

Location

Los Angeles, CA

Service Provided

    Douglas Wilson Companies was founded in 1989 to provide a wide range of specialized business, workout, and real estate services to law firms, state and federal courts, corporations, partnerships, pension funds, REITs, financial institutions, and property owners throughout the United States.

    ADDRESS

    1620 Fifth Avenue
    Suite 400
    San Diego, California 92101

    PHONE

    (619) 641-1141

    EMAIL

    info@douglaswilson.com