A portfolio of three residential properties, Seasons at Tradition, Cascades at Southern Hill and The Townhomes of San Simeon with a combined total of 2,350 lots/units on over 646 acres. The subdivisions were in all stages of development, from 19 sold townhomes to over 720 single family home lots and undeveloped land.
Project Description
Douglas Wilson Companies (DWC), agent for Receiver, was engaged to maintain and preserve the assets of the receivership estate including ongoing construction, entitlements and the affairs of the Homeowners’ Association (HOA).
Scope of Work
DWC engaged third party contractors and consultants to assist with the management and protection of the property, access the costs necessary to complete the unfinished construction, understand the property’s operational obligations and help preserve the property’s entitlements. Operational and marketing budgets were prepared to outline the costs to operate and sell the property. DWC compiled all the necessary due diligence information and was retained by KeyBank to represent the bank in the sale of the property. Additionally, DWC governed the developer-controlled HOA ensuring that the association was in compliance with all state and regulatory laws.
Project Resolution
DWC successfully sold all properties.
Project Name
Levitt & Sons Portfolio
Client
Circuit Court of the Nineteenth Judicial Circuit & Circuit Court of the Twentieth Judicial Circuit, Florida
Location
Florida
