A partially constructed 38 unit condominium project that consisted of one (1) six-story podium style building over a two-level subterranean parking garage located in Los Angeles, CA.
Project Description
Douglas Wilson Companies (DWC), agent for Receiver, was tasked to preserve, protect and eventually complete the construction of the collateral.
Scope of Work
During the term of the approximately two-year receivership, DWC negotiated all mechanics’ liens on title, settled various pre-receivership claims with preferred subcontractors necessary for the successful completion of the building, engaged an architect and structural engineer to make required changes to rectify deficiencies found in the construction drawings, identified and oversaw a successful mold remediation program, completed public improvements surrounding the property and secured release of the associated surety bonds, and obtained a certificate of occupancy upon completion of the building and its 38 units.
Project Resolution
An entity affiliated with the Plaintiff took title to the property at the trustee’s sale, and DWC facilitated transfer of the property to the new owner.
Project Name
Fedora
Client
Superior Court of the State of California for the County of Los Angeles, North Valley District Chatsworth
Courthouse
Location
Los Angeles, CA
