After completing several apartment syndications with private investors, M. Douglas founded B.D.F. Corporation 1958; which later became incorporated as IPS in 1964. The company thrived by matching a number of small investors in apartment projects that IPS would then develop, build and manage. Primarily focusing on Orange County, California, IPS built over 10,000 apartment units through 1980. The company continues to own and operate the majority of these properties. David M. Stone joined the company in 1969 and still serves on the Board of Directors. Jerrold A. Glass, now deceased, joined the company in 1971 as President after providing accounting services to the firm for many years.
Western National Properties (WNP) is actively pursuing acquisition opportunities in selected geographic markets that have the appropriate mix of current income and long-term appreciation potential. Refer to our Acquisition Criteria for current acquisition criteria.
Successful acquisitions begin with the specific identification of assets in markets that have been proven to be stable during all types of economic climates. As apartment "experts" in performing due diligence, including: underwriting analysis, evaluation of financial operations, and a review of physical property challenges, WNP has proven its ability to lead our investment partners through the acquisition process with skilled detail, resulting in maximized returns.
Having an in-house construction company (WNB) and property management company (WNPM) gives us an edge over our competition, allowing WNP to quickly analyze which acquisition opportunities can maximize the investment potential to our partners.