Douglas Wilson Companies Named Receiver on 193-Unit Nautica Apartments in St. Petersburg, Florida

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Clean-up and enhanced on-site management presence expected to boost occupancy, facilitate sale

The property has tremendous potential to realize greater value for its owners

Douglas Wilson Companies (http://www.douglaswilson.com) has been named court-appointed receiver for the 193-unit Nautica Apartments in St. Petersburg, Florida.

"The property has tremendous potential to realize greater value for its owners," said CEO Douglas P. Wilson. "By dealing with deferred maintenance issues immediately and installing proactive professional management and marketing, we will stabilize and ultimately upgrade the asset for disposition by the lender."

DWC's new professional management team, The Continental Group, will supervise thorough cleaning and repair work, including replacement of appliances, carpeting and landscaping where needed.

Based in San Diego, Calif., Douglas Wilson Companies specializes in distressed real estate and court-appointed receiverships, with six offices around the United States, including Atlanta, Las Vegas, Miami, Orlando and San Francisco.

ABOUT DOUGLAS WILSON COMPANIES
Founded in 1989, Douglas Wilson Companies is one of the largest firms of its kind, providing a wide range of specialized business and real estate services to law firms, state and federal courts, corporations, partnerships, pension funds, REITS, financial institutions and property owners nationwide.

Services include workout and problem resolution, crisis/force majeure response, asset management, consulting, business planning, receivership, development, entitlement, and construction management. To date, the company has provided problem resolution for more than 600 projects involving assets valued in excess of $10 billion.

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Kathleen Klassen
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