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Success Stories: Residential/Multifamily

Independent Senior Living

Property Type: Multifamily, Independent Senior Living Location: Texas # of Units: 111 Apartment Homes & 4 Commercial Spaces Occupancy Increase: From 59% to 72% Value Created: Increased annual revenue by 31% and decreased operating expenses by 28% resulting in a 60% annual NOI increase. BACKGROUND This property is a low-income, independent senior housing community. Originally built […]


Sabana Puerto Rico

Property Type: Condominium Project Location: Fajardo, Puerto Rico Value Created: Disposition of 19 individual units totaling $2.6 million, then facilitated the balance of the disposition of unsold units to a single buyer BACKGROUND Trigild was appointed receiver of a fractured condominium project in Fajardo, Puerto Rico that consisted of 300 condominiums. The unsold units needed […]


Riverwinds Apartments

Property Type: 55 and over apartment Location: West Deptford, NJ # of Units: Portfolio of 199 Units Value Created: Increased occupancy by 75% in 18 months BACKGROUND Trigild was appointed to be the manager on a new multifamily lease-up property. The developer depleted the asset’s capital and leasing efforts were stalled at 17% occupancy.  Additionally, […]


Multifamily | West Point Village Apartments

Challenges: In August of 2011, Trigild was appointed receiver of the West Point Village Apartments.It was immediately evident that this large, garden-style apartment complex was in a state of extreme distress.    Due to previous mismanagement, there were numerous pending life safety issues and code violations tied to the property. The property had apparent structural […]


Alliance Portfolio

Background Trigild was appointed receiver and oversaw management of thirteen multifamily properties across four states. The properties ranged from Class B small boutique properties to larger Class B 500+ unit properties.   Challenges The portfolio maintenance had been neglected. Tenants began to complain, specifically to city officials. It then surfaced that Westchase Ranch which was […]


Joshua Villas

Background Joshua Villas Apartments, located at 3985 E. Cheyenne Ave. in Las Vegas, Nev., is nestled in a garden setting atmosphere close to shopping, restaurants and easy freeway access. The beautiful complex was built in 1999 and offers 176 one-, two-, and three-bedroom apartments, ranging from 520 to 895 square feet, with a portion restricted under […]


Judith Villas Apartments

Background Located in Las Vegas, Nev. at 711 East Nelson Ave, the Judith Villas Apartments is a three-story gated community located on a cul-de-sac surrounded by desert landscaping. It is comprised of 144 one-, two- and three-bedroom units, ranging from 525 to 798 square feet and is under Section 48(energy credit) housing restrictions. Challenges This property […]


Highland/Bluff House Condominiums

Synopsis: Highland, Phase I, is a 146-unit condominium of which 12 units had been sold when Trigild was appointed receiver. Bluff House, Phase II, is an adjacent 146-unit conventional rental property not yet incorporated into the condominium. Challenges: Volatile local market conditions. Traditional marketing and advertising ineffective. Condo association in distress, delinquent taxes. Units sold […]


Bordeaux

Synopsis: A 104-unit condo conversion: 45 units were sold, 59 were unsold and in various states of rehabilitation. Challenges:  No property management was in place. No marketing or advertising in place. Condo Association in turmoil. The debtor wasn’t collecting enough HOA dues to cover the expenses for common area maintenance.  Since the debtor had possession […]


Bethany Apartments

Background A cash strapped California-based borrower abandoned management of $500 million worth of real estate, leaving the lender in a precarious situation in which collateral value was spiraling downward. A large special servicer engaged Trigild to stabilize the 6,000-unit portfolio. Submarket AZ, CA, CO, FL Units 6,000 Product 13 apartment complexes Client Midland Loan Services […]