SAN DIEGO, Calif. – Adding to its growing portfolio of distressed properties, Trigild Inc., a San Diego-based receivership and loan recovery specialist, has been appointed receiver for the 24-story, 482,060-square-foot Viad Corporate Center – a landmark office tower encumbered by a $65 million defaulted loan — at 1850 N. Central Ave in Phoenix, Arizona.
As court appointed receiver, Trigild is charged with operating – and protecting — the high profile Phoenix office building, currently facing foreclosure. In addition to office space, the high end structure houses more than 30,000-square-feet of retail space and other amenities – including a restaurant, coffee shop, theater, dry cleaner, fitness center and conference facilities.
The high rise, which was built in 1991, sits on 4.105 acres and also encompasses a landscaped water feature, sculpture garden and an attached 1,257-stall parking structure.
The building’s 37 tenants will not be impacted in any way by the receivership, and Trigild’s role is to help ensure that day to day operations run smoothly and efficiently during the foreclosure process.
Trigild now manages 150 real estate assets representing nearly three billion dollars of assets, serving as receiver for most of these projects.
Headquartered in San Diego with regional offices throughout the country, Trigild has more than 30 years of expertise in managing a wide array of commercial real estate assets and operating businesses, focusing on turnaround management and repositioning of troubled properties. Specializing in non-performing commercial loans, Trigild combines receivership, operations management, and disposition services under one roof — for maximum loan recovery. Trigild is located at 12707 High Bluff Drive, Suite 300, San Diego, 92130. For further information, visit www.trigild.com.