History
Tapping the Senior Housing Sector
Wilkinson Development's initial focus was, and remains, in the area of senior housing. Beginning in 2003, Wilkinson Corporation began to make its mark in senior markets. As values
for senior properties began to rise significantly over the next few years, it became apparent that the need
to diversify into the development and construction side of senior
housing would be a strategy worth pursuing.
With Wilkinson's broad real estate capabilities coupled with the
growth and proficiency of Wilkinson's wholly-owned senior housing
management company, Good Neighbor Care® Centers, LLC of Eugene, OR, WD had the ability to assemble a fund and provide a full-range of services to accommodate
investors from property identification, planning, architectural
oversight and due diligence, to construction, lease-up, management and—once stabilized and meeting Wilkinson's criteria for favorable market
conditions—the eventual sale of the property.
WD's First Fund
In early 2007 Wilkinson Development Fund I, LLC was formalized and
quickly became a popular investment vehicle with many of Wilkinson's
legacy investors, along with a good number of new fund participants. Before long
the fund had built up the equity needed to begin it's proposed
three-property portfolio in Illinois.
The Road Ahead for Wilkinson Development
One aspect of the real estate industry that Wilkinson is all too familiar with is the continual ebb and flow of ever-changing markets. At no other time in modern history has that concept been more apparent with credit markets in crisis and values dropping in both residential and commercial real estate sectors. The overall stability of the senior markets, along with the exponentially growing need to accommodate the millions of baby-boomers that are just beginning to reach retirement age, WD's construction projects forge ahead. At the same time, along with the rest of the Wilkinson Family of Companies, Wilkinson Development is looking for opportunities in other areas of real estate. Wilkinson Corporation built its successful foundation nearly twenty years ago on turnaround properties, many of which required development and construction services to complete or add-on to existing projects and properties. With the addition of WD into the stable of Wilkinson subsidiaries, the Wilkinson Family of Companies is better prepared than ever to capitalize on the many changes in real estate markets.
