|
SAN DIEGO—Lease preservation is the ideal situation for owners and tenants after a natural disaster, but understanding what your lease says and provides for is key, Douglas Wilson, CEO of Douglas Wilson Cos., tells GlobeSt.com. Hurricanes Harvey and Irma have brought certain questions to the fore: When things return to some sense of “normal,” will residents of Texas and Florida have workplaces to which to return? What happens if their building is damaged and cannot be occupied?
Acting as a fiduciary, Wilson has expertise in remediating, fixing and repositioning damaged/broken assets. His company has handled $18 billion in distressed assets nationwide, including Florida. We spoke with him about the pressures on commercial property owners, landlords and lenders after a natural disaster, the legalities of lease preservation and the covenants in a loan, as well as what happens when property owners just “hand back the keys” on a damaged building to their lender?
GlobeSt.com: What can residents of Texas and Florida look forward to regarding their workplaces when things return to some sense of normal after the hurricanes?
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 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.
Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
