SAN DIEGO, Calif – Trigild – a San Diego-based distressed real estate, loan recovery and real estate specialist – has been appointed receiver for Enclave, a high end, 1,119-unit multi-family property in Silver Spring, Maryland.
As court appointed receiver, Trigild is charged with operating and protecting the high-rise property. “This is a highly desirable asset offering commuters easy access to Washington D.C. and Bethesda, and we are optimistic that we can successfully position it for a quick sale and avoid a lengthy, expensive foreclosure,” said Trigild president Bill Hoffman.
Situated on 26 acres, the development also features a 12,000-square-foot amenity center with fitness facilities, a cyber café and billiards room.
According to Hoffman, the receivership process will immediately enable needed enhancements and improvements and should be seen as good news by all residents. “Occupancy is a key factor in determining value, and our focus is to keep tenants happy and grow occupancy.”
Trigild now manages 158 real estate assets, including more than 11,000 multi-family properties. The company serves as receiver for most of these projects and – as the level of defaults continue to accelerate – he expects that figure to increase.
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.