Sale of the leasehold interest in the premier remaining large urban waterfront parcel on the West Coast. The leasehold comprised 43.38 acres of under-utilized waterfront land for development, 32.31 acres of surface water area, and the right to operate the iconic Queen Mary Oceanliner.

Project Description

Engaged as exclusive listing agent and consultant to market and sell the leasehold interest in bankruptcy.

Scope of Work

Conducted an international marketing campaign; set up an exhaustive online due diligence website to allow potential bidders to do extensive up front due diligence; sourced a non-contingent “stalking horse” bidder at $40M; sourced a non-contingent over bidder who bid $43M at a live bankruptcy courtroom auction and ultimately closed escrow.

Project Resolution

Leasehold in bankruptcy sold for $43M; the transaction was awarded the CCIM 2007 “Most Innovative Deal of the Year” award and the CRASD 2007 “Out of Market Transaction of the Year” award.

Project Name

Queens Seaport Development

Client

Douglas P. Wilson

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