A southeast regional homebuilder with a portfolio of approximately 30+ subdivisions located in Florida, Georgia, North Carolina and South Carolina, consisting of approximately 100 completed or partially constructed homes and over 800 remaining lots.
Project Description
DWC was tasked to take possession and control of all real and personal property associated with the development.
Scope of Work
DWC was engaged as consultant to McCar Homes pursuant to a Forbearance Agreement executed between McCar Homes and the agent lender. DWC’s responsibilities included overseeing cash controls, performing financial and accounting functions, negotiating outstanding past due payables including mechanics’ liens, monitoring the remaining construction of partially completed home and overseeing the disposition of completed homes and remaining lots.
Project Resolution
Following foreclosure by the lender, DWC was discharged.
Project Name
McCar Homes
Client
Douglas Wilson Companies
Location
Southeast United States
