SAN DIEGO—The need for wealth-transfer services by disinterested third parties and the development of highly amenitized assisted-living communities near the adult children of residents is growing, Douglas Wilson Cos.' president John Morrell tells GlobeSt.com.
The firm plans to work with legacy asset stakeholders and their professionals to assist in developing an action plan that best maximizes the value, use and return of these portfolio assets when they are transferred to beneficiaries. The plan's goal will be to set forth the most feasible, value-maximizing course of action, or its alternatives, after the portfolio is assessed and legacy stakeholders have input. In appropriate circumstances, DWC will assist the stakeholders in implementing the selected plan. Also, in appropriate circumstances, DWC will utilize its expertise to continue to assist stakeholders in ongoing portfolio management or disposition.
In addition, after several years of due diligence, DWC is entering the market-rate senior-housing business with the first of six to eight projects in the San Diego area. The firm broke ground in July on its first senior-housing project, a complex of 111 units of assisted living in Chula Vista, CA. The $30-million, 4.5-acre development is located at 1290 Santa Rosa Dr. on the final piece of developable land in Otay Ranch and consist of 85 apartments for assisted living and 26 units for memory care. Completion and grand opening are anticipated in late 2018.
Continue Reading for Free
Register and gain access to:
- 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
© 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.