Wendover Management runs the property management side of Wendover Housing Partners, overseeing multifamily communities in the Southeast and handling leasing, maintenance, and resident programming. It manages the full property lifecycle from land planning and development to construction and long-term management, focusing on affordable, student, and workforce housing, including LIHTC-funded projects and transit-oriented locations. It differentiates itself through end-to-end property management, use of LIHTC and public-private partnerships for financing, and strong collaboration with governments on housing policy. Its goal is to expand affordable housing options and advocate for policies that address housing shortages while delivering well-managed homes for families, students, and local workers.
Company Size
51-200
Company Stage
N/A
Total Funding
N/A
Headquarters
N/A
Founded
1995
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Lawsuit claims breach of duty, conspiracy, in sale of land for commercial development. Trial is underway this week in Polk County for a lawsuit against the owner of a development and brokerage firm and other entities he owns or manages, alleging they sold property in the fast-growing western Des Moines suburbs for residential and commercial development below fair market value and inflated commission rates, causing harm to minority owners of the site. Named as defendants in the lawsuit are William Spencer, TJK Investments LC, Wendover Reserve LLC, and Landmark Brokerage Inc. Together, they are listed as majority owners of Pavilion Park LC. According to the lawsuit, Spencer manages TJK and owns Landmark. He is also the manager and president of Pavilion. The plaintiffs in the equity petition, filed in March 2025, are Eagle Nest Investments LLC, Gratias Properties LLC, and Thomas J. Gratias. They are minority owners in Pavilion Park. Pavilion is located just south of Interstate 80 near the Grand Prairie Parkway interchange. According to the six-count lawsuit, TJK Investments and Spencer arranged to sell the land to Wendover, effectively buying out the minority owners over their objections. TJK and Spencer also arranged for Pavilion to pay an unauthorized excessive broker commission to Landmark Brokerage, which is also owned by Spencer, the lawsuit states. The sale included 25.52 acres of land for residential development to Wendover for $1.6 million, below the fair market value of $1.99 million. The lawsuit also alleges that TJK and Spencer approved the sale of 126.52 acres of land intended for commercial development to Wendover for $11.4 million over the objection of the minority owners. The fair market value of the commercial parcels was at least $18.34 million, the lawsuit states. "The sale of the commercial parcels constituted grossly negligent or reckless conduct, willful or intentional misconduct," the lawsuit states. Both the residential and commercial parcels border a site that was sold to the Waukee school district for a new high school. That site is not part of the lawsuit. According to the lawsuit, from 2019 to 2022, Spencer, on behalf of Pavilion, signed commercial listing agreements with Landmark Brokerage, authorizing a 2% commission for sales in excess of $10 million. In 2023 and 2024, Spencer signed commercial listing agreements, increasing commission payments for all sales to 6%. The lawsuit alleges that Spencer did not notify the members of Pavilion that he tripled the broker commission that would be paid to his own company. According to the lawsuit, Pavilion paid 6% commission on the sale of the residential parcels and the commercial parcels, totaling nearly $1.2 million. "No broker commission would be commercially reasonable or required in such a related party transaction," the plaintiffs allege in the lawsuit. The lawsuit said that even if a commission was reasonable, the original listing agreement with Landmark didn't require payment of more than 2%. The lawsuit alleges that the actions of TJK and Spencer breached the loyalty and care they owed to Pavilion and the minority owners, and that none of the transactions were fair to Pavilion. It alleges that TJK and Spencer "have breached their duties by... competing against Pavilion and/or dealing with Pavilion on behalf of a company having an interest adverse to Pavilion." The lawsuit alleges that their actions were "intentional, malicious, and performed with a willful and wanton disregard for the rights of the minority owners and Pavilion." According to the lawsuit, Wendover Reserve conspired with TJK and Spencer in acquiring the parcels at below market value and entered into an agreement with TJK and Spencer with a goal of helping Wendover and harming Pavilion. In their answer, filed in April 2025, the defendants denied any wrongdoing. The trial, which began Tuesday, is expected to finish by the end of this week. It is a bench trial, meaning there is no jury and a judge will render a verdict. Spencer is also president and CEO of Landmark Cos. Inc., the development firm behind the $325 million, 130-acre mixed-use Kettlestone Lakes development north of I-80 along Grand Prairie Parkway. That development is not part of the lawsuit. Michael Crumb is a senior staff writer at Business Record. He covers real estate and development and transportation.
Lawsuit: 85-year-old man with dementia died after slipping into retention pond in dangerous disrepair. Up next. Published on 07 September 2026 Inset: James Holloway Sr. (Jacksonville Sheriff's Office). Background: Marcis Pointe Apartments in Jacksonville, Florida, where Holloway drowned in a nearby retention pond (Google Maps). Discover more Independent News Source US News Digest An 85-year-old Florida man living with dementia drowned after leaving his apartment at a Jacksonville senior living community and ending up in an unfenced retention pond that had fallen into "dangerous disrepair," according to a newly filed lawsuit. James Holloway Sr. was reported missing on March 21 from his apartment at Marcis Pointe in Jacksonville. Authorities said at the time that Holloway had dementia and was able to walk slowly. Deputies later discovered his body in a retention pond near the apartment complex. Holloway's family has now brought a wrongful death lawsuit against the senior living community's owners, Wendover Management LLC and NVC-103rd Street, LTD, accusing them of negligence in the upkeep and safety of the area surrounding the pond. Discover more New York Travel Celebrity News Updates "Due to that retention pond not being maintained in compliance with mandatory maintenance strictures, including those pertaining to the slope of the land heading towards and into the water, James O. Holloway Sr. should never have been able to gain access to the pond, as the pond should have been fenced or otherwise restricted from public access," the lawsuit, filed Tuesday in Duval County, states. Attorneys for the plaintiffs, from The Haggard Law Firm and Edwards Law, contend the pond's slope was excessively steep - a hazard they say was especially serious given its location beside an apartment complex serving elderly residents. Holloway's daughter Latonya Stewart and her lawyers held a press conference regarding the suit. "The chain of events continues to be the same and continues to be predictable," attorney Adam Finkle said. "An apartment complex with a retention pond absolutely ignores their legal duties for how to maintain that man-made body of water, that retention pond falls into dangerous disrepair, and an absolutely foreseeable and preventable death happens." Stewart told reporters that her father "did not deserve to die the way he did, at the bottom of a pond," and urged the management company to fix the alleged safety issue. "Anybody can walk out and slip in one of those ponds," Stewart said. "I'm sure it's not the first and I hope it's the last." Discover more Geographic Reference Prisons & Corrections War & Conflict The management companies have not commented on the lawsuit. The post 85-year-old man with dementia dies after slipping into retention pond that was in 'dangerous disrepair:' Lawsuit first appeared on Law & Crime.