SPRING VALLEY, CA—Douglas Wilson Companies hasrecently completed the acquisition of 50 acres ofthe 650-acre Pointe San Diego project here.
Douglas Wilson, chairman and CEO of DouglasWilson Companies (DWC), said that the firm purchased a senior note,secured by the 50-acre parcel, from a nationallender in August. Included in the acquisition are a 6-acreimproved site that is entitled for development of88 multi-family units, and 44acres—the former site of the proposed PointeResort—that will be re-entitled by DWC for a residentialdevelopment with neighborhood-serving commercial uses.
“DWC focuses on acquiring quality properties in desirableneighborhoods, and this acquisition represents a unique opportunityto add a discounted property with significant upside potential toour portfolio,” said Wilson. “With the improving economic outlook,we will continue to be active on the principal acquisition anddevelopment side of our business.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
