FOR IMMEDIATE RELEASE
SALE OF COLDWATER CREEK PORTFOLIO RECOGNIZED AT TURNAROUND ATLAS AWARDS
SAN DIEGO, Calif. (July 2015) – Coldwater Creek – a portfolio of 37 commercial and office properties — earned top honors at the Turnaround Atlas Awards in the “Insolvency Deal of the Year” category for its liquidation plan/sale. The 7th annual awards gala was held last month in Chicago at the Field Museum.
Trigild, which specializes in property management, receivership/bankruptcy and consulting services, was liquidating trustee of Coldwater Creek – consisting of properties in 17 states throughout the southeast, west and Midwest — and took the portfolio to market in February 2014. Just five months later, Trigild negotiated the sale of the portfolio’s 37 strip centers and two single-story offices — totaling 600,000 square feet — for more than $42 million.
For 2015, 410 transactions were scrutinized — yet only 48 unique transactions were selected as winners, all selected independently based on performance in restructuring, pre/post workout, sustainability, operational/client/HR metrics, number of creditors, timeliness, jurisdiction and leadership as well as other criteria.
“As liquidating trustee, we were able to carefully position the properties for sale – renewing/extending nearly 120,000 square feet of space within the portfolio – resulting in a smooth and expeditious sales process,” said Bill Hoffman, CEO of Trigild.
Considered by many in the industry to be the gold standard of performance, the Turnaround Atlas Awards exclusively honors excellence in the categories of best value-creating turnaround deals, sought-after professionals and outstanding firms from the international restructuring, special situations M&A, judicial and out-of-court reorganizations industries.
Headquartered in San Diego with offices throughout the country, Trigild has nearly 40 years of management and fiduciary expertise, with a focus on maximizing value for assets in an array of industries, including commercial real estate, multifamily and hospitality. 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.
Sydnie Moore firstname.lastname@example.org 619-823-8448