SPRING VALLEY, CA—Douglas Wilson Companies has recently completed the acquisition of 50 acres of the 650-acre Pointe San Diego project here.
Douglas Wilson, chairman and CEO of Douglas Wilson Companies (DWC), 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.”
Founded in 1989, 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.
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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.
