SAN DIEGO--(BUSINESS WIRE)--Douglas Wilson Companies (DWC) has recently completed the acquisition of 50 acres of the 650-acre Pointe San Diego project located Spring Valley, CA.
Chairman and CEO of DWC, Douglas Wilson, said that the firm purchased a senior note, secured by the 50-acre parcel, from a national lender in August. Included in the acquisition are a 6-acre improved site that is entitled for development of 88 multi-family units, and 44 acres – the former site of the proposed Pointe Resort – that will be re-entitled by DWC for a residential development with neighborhood-serving commercial uses.
“DWC focuses on acquiring quality properties in desirable neighborhoods, and this acquisition represents a unique opportunity to add a discounted property with significant upside potential to our portfolio,” said Wilson. “With the improving economic outlook, we will continue to be active on the principal acquisition and development side of our business.”
DWC has a successful track record of entitling and developing residential communities, office properties, and urban mixed-use projects as both a principal developer and fiduciary. Notable past entitlement and development projects include: Parkloft, The Mark, CenterPoint, Terra Vista, and Creekside Vistas.
About Douglas Wilson Companies
DWC was founded in 1989 to provide a wide range of real estate and problem resolution services. Our professional team has earned a unique track record of success with our diverse client base, which includes financial institutions, law firms, investors, state and federal courts, and property owners located throughout the country. With a seasoned team of business, real estate, and financial services professionals, DWC offers a level of specialized services not found elsewhere. With offices in Las Vegas, San Diego, San Francisco, and Washington, D.C., DWC is one of the largest business entities of its kind. Focusing on our commitment to and relationships with our clients, we provide asset management, consulting, business planning, development, entitlement and construction management, receivership, and problem resolution services. For more information, visit: www.douglaswilson.com.