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.”

|

Founded in 1989, DWC has a successful track record of entitlingand developing residential communities, office properties, andurban mixed-use projects as both a principal developer andfiduciary. Notable past entitlement and development projectsinclude: Parkloft, The Mark, CenterPoint, TerraVista, and Creekside Vistas.

|

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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.