WASHINGTON, DC-National resolution and real estate services firm Douglas Wilson Cos., based in San Diego, is planning to open an office in the DC area by early July. The company, which was unable to provide an interview to GlobeSt.com, cites a desire to be close to key government officials and growing demand on the Eastern Seaboard for its services.

It also noted that it owns, or is the receiver of, four local properties, valued at more than $373 million. These include Senate Square, a two-building, 432-unit luxury apartment rental community; 1015 Half St., SE, a partially constructed 400,000-square-foot office building once owned by Opus East; a partially constructed 268,762-square-foot office and research facility, also developed by Opus East, adjacent to the University of Maryland that was meant to be the new home for the National Oceanic and Atmospheric Administration; and 100 M Street, a 12-story, 243,000-square-foot office building.

The DC area has been, of course, relatively immune from the national downturn in commercial real estate pricing and valuations--but not completely insulated. Distress is growing here. According to Delta Associates, some 37% of local distress debt can be traced to four companies: Opus East, General Growth Properties, Tishman Speyer and Broadway Management.

According to its latest statistics, the total value of distressed commercial real estate has reached $187.4 billion, including properties in distress, foreclosure and lender REO. Delta’s numbers, which came out in April, were compiled from Real

Capital Analytics, and represent an increase of 10%, or $17.3 billion, since its January report and 33%, or $46.9 billion, since November 2009.