A land parcel adjacent to the Lake Tahoe Ritz Carlton at Northstar planned for 61 upscale luxury condominiums.
Douglas Wilson Companies (DWC), agent for Receiver, was charged with overseeing the disposition of the asset.
Following the appointment and prior to the current disposition process, DWC resolved numerous entitlement and compliance issues. In particular, DWC worked closely with the Placer County (CA) planning and engineering departments to process a building permit for the property, which resulted in the reduction of an annual Mello Roos tax from $1.9 million to $11,000. This reduction greatly enhanced the sale value of the property.
The Receiver has been successfully discharged.
Lake Tahoe Ritz Hotel Residences Land Parcel
Superior Court of the State of California, Placer County
Lake Tahoe, CA
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.
1620 Fifth Avenue
San Diego, California 92101