Posts Tagged ‘bank forclosure’

Receiver Robert Warren Leaves Historic Hollywood Hillview to Incompetent Management

Tuesday, December 22nd, 2009

Recently a Hollywood historic landmark, the Hillview Hollywood apartment building has been forced into foreclosure by the bank. It seems the former owners ran into some financial trouble within their various holdings and they were forced to turn the landmark once owned by Charlie Chaplin back over to the bank. This is when the trouble started.

The bank turned management over to little know property management company IPS who then installed new comer Joi Davis as the properties new manager or as she likes to refer to herself as the community director, and direct she has.

Joi davis brings with her little to no experience with property management. She immediately took a free luxury apartment and began entertaining her various beaus. She has managed to alienate almost all the residence, maintenance of the building has all but stopped. Real building issues and problems are swept under the rug while the focus is only on selling the building so the bank no longer has to hold the asset and so they can recoup their losses which will actually turn into profits.

The building is now rampant with drug use, people snorting cocaine on the building balconies, homeless persons sleeping on the roof and urinating around the building. Rent costs have been lowered beyond levels ever scene by residence who have occupied the building for many years. A long term tenant is being charged top dollar while new “temporary” residence are moved in below costs so the building appears to be full.

Messing with numbers is not new to IPS or Joi Davis. Their so called specialty is to turn buildings around and getting them sold. BY ANY MEANS NECESSARY and at ALL COST!

Potential buyers should beware. The 3 retail locations in the building have been shuttered for over a year now and people are running away from this property which is a sad sad story about a property with such a rich history!