FOR IMMEDIATE RELEASE
TRIGILD TAKES OVER FLEX PARK IN LANDOVER MARYLAND
San Diego Firm Named Receiver of Office, Industrial Complex
SAN DIEGO (Feb. 25, 2015) – Adding more than 250,000 square feet to its portfolio, Trigild – a San Diego-based real estate services company with offices nationwide – has been appointed receiver of Centerpointe, an industrial/office complex at 801, 901, 1001 Brightseat Road in Landover, Maryland, just outside of Washington D.C.
According to Trigild’s director of real estate Jeff Fanzo, the Circuit Court of Prince Georges County, Maryland recently appointed Trigild receiver of the $17.5 million flex park, following a breakdown in the refinancing process. “When the borrower and the lender could not reach an agreement on the terms of the refinancing, a receiver was appointed.” As court appointed receiver, Trigild is charged with operating and protecting the property, and begins its oversight immediately.
The complex currently has 14 tenants, with anchor tenants including the Washington Post and the State of Maryland. “At this point our role will be to help facilitate leasing, as well as stabilize the asset and repair fire and other safety issues.”
Fanzo said the building’s tenants will not be impacted in any way by the receivership. “Our role is to help ensure that day-to-day operations run smoothly and efficiently, as well as help reposition the property,” he said.
Headquartered in San Diego with offices throughout the country, Trigild has nearly 40 years of property management and fiduciary expertise, with a focus on managing and maximizing value for assets in an array of industries, including commercial real estate, multifamily, hospitality and more. Since its inception, Trigild has developed a full service national operating platform providing institutional quality services to private real estate investors and financial institutions. For information, visit www.trigild.com.
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