A 240 unit apartment complex located in Colorado Springs, Colorado.
Douglas Wilson Companies (DWC), agent for the Receiver, was tasked with oversight and operation of the multi-family complex.
Throughout the receivership, DWC made significant improvements to the property’s physical and aesthetic condition, maintaining occupancy at 80% throughout the process. DWC also conducted a comprehensive audit of the property’s lease files and implemented cash controls.
Ultimately, DWC preserved the asset, allowing the borrower to cure the loan with the sale of the property.
Sunset Ridge
District Court of El Paso County, Colorado
El Paso County, CO