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Oct 1, 2010

Receiver Appointed for Dornoch Property in San Diego

October 1, 2010 -- NEWPORT BEACH, CALIFORNIA - Robert Griswold was recently recommended by OneWest Bank, FSB and appointed by the Superior Court of California to serve as court-appointed receiver for the Dornoch property.  The Dornoch property is a light industrial property located in Chula Vista, a suburb of San Diego.  The lender elected to install a receiver to operate the property after the ownership defaulted on its loan.  As receiver, Mr. Griswold engaged Griswold Real Estate Management as property manager and will select additional consultants as needed to manage the estate.    


In addition to being a receiver in association with CWP Advisors, Mr. Griswold is a real estate expert  and  owner of Griswold Real Estate Management, Inc.  He has served as a court-appointed receiver and bankruptcy custodian on over 175 matters spanning two decades.  He has consulted on over 1,500 litigation matters, been deposed over 225 times and provided sworn testimony in trial or arbitration on over 70 occasions in both state and federal litigation matters throughout the United States. Mr. Griswold is also an accomplished writer of several books and frequently contributes to real estate trade publications.  


Mr. Griswold has been associated with CWP Advisors since 2009.  CWP Advisors is a real estate advisory firm providing services to owners, lenders and special servicers who have invested in residential and commercial real estate located throughout the western United States.  Its clients include some of the largest financial institutions and special servicers responsible for managing loans pooled into commercial mortgage backed securities (CMBS).


Pasadena, California-based OneWest Bank Group LLC is a newly-formed thrift holding company owned by a consortium of private investors including Paulson & Co., Inc. and J.C. Flowers & Co. LLC. On March 19, 2009, OneWest Bank completed its acquisition of the banking operations of IndyMac Federal Bank, FSB from the FDIC.  On February 19, 2010, OneWest Bank also acquired La Jolla Bank FSB from the FDIC.

About CWP Advisors LLC

CWP Advisors was formed in response to the distressed real estate market. The Company offers Asset Management, Receivership Services and Sophisticated Resolution Solutions for real estate assets for owners and lenders invested in residential and commercial real estate.

For more information: 1601 Dove Street, Suite 273, Newport Beach, CA 92660 | 949-330-7370