  |
|
In the spring of 1992 Wilkinson Corporation was formed and began to pursue the acquisition of opportunistic real estate investments. Chairman and founder Russell Wilkinson first targeted the Northeast region of the United States. New England had gone through several years of diversified growth and the real estate market peaked in the late 1980’s before suffering significant devaluation as a regional recession hit the area. Prior to that time, many in New England felt they were immune to substantial downward swings in real estate values.
In this economic climate, Wilkinson Corporation began creating partnerships to acquire multifamily and commercial real estate using “less than 50 percent of replacement cost” as a guide. A disciplined, investigative process was implemented and many properties were analyzed and reviewed over the course of several years. As a result of this comprehensive due diligence process, Between 1992 and 1998, Wilkinson Properties (WP) funds and partnerships purchased a total of 23 different multifamily and commercial properties. Six separate WP Funds (Funds I-VI) and five private partnerships/limited liability companies were formed. From the late nineties through 2003, Wilkinson Corporation held, managed and nurtured our active partnerships. For a number of years we refrained from any new acquisitions. The reason was simple... the real estate market was just too Through a period of significant growth and diversification following the successful sale of a majority of those early acquisitions, Wilkinson Corporation is now the parent company to five distinct subsidiaries. Wilkinson Real Estate, LLC is the primary acquisition and disposition arm for property sourcing, due In 2003 Russ Wilkinson once again identified a segment of the market that he felt held outstanding potential. This time, however, rather than geographical boundaries, a specific asset class of the market was singled out. In the last several years, Wilkinson funds and investment strategies have moved aggressively into the senior housing market. This dynamic market sector has gone through an incredible growth trend over the last twenty years, and we see outstanding acquisition potential in both turnaround markets and in strong existing Senior Housing business models. All told, Wilkinson funds have acquired more than $400 million in assets on behalf of investors, and through our various subsidiaries we now operates more than fifty senior care communities in eleven different states. As we continue to strengthen our foothold in the senior housing industry, Wilkinson Corporation remains dedicated to developing our current asset base, expanding further into senior housing and exploring new opportunities for our investors across the country. |
By 1992, there were tremendous opportunities to buy at a fraction of replacement cost. There were few buyers and the mood of banks and investors was bleak, borne of the worst downturn in the regional economy since the Great Depression. Bank failures were rampant and many of the regional real estate conglomerates closed their doors.
offers were submitted and in the end a variety of real estate properties were purchased that met Mr. Wilkinson’s exacting standards.
strong. We saw the value of our properties increase at an incredible rate. We have since locked in some tremendous multi-year returns for investors by liquidating many of those assets at the top of their respective markets. Some Wilkinson Corporation funds saw annual returns in excess of 40% and higher for the life of the fund... ten to twelve years or more in some cases.
diligence and eventual transactions. Wilkinson 1031, LLC is a qualified intermediary for property exchanges under Section1031 of the U.S. Internal Revenue Code. 