PROJECT UPDATE – August 2016
Lending a unique perspective on Brexit and its potential impact on the U.S. economy and commercial real estate market, Robert Guest, foreign editor for The Economist, will join noted economist Sam Chandan, Ph.D. and industry expert Don Sheets as a keynote speaker at the 16th Annual Trigild Fall Lender Conference, set for October 5 to 7 at the Hotel Del Coronado in San Diego.
According to conference founder and Trigild president Judy Hoffman, speakers will present an erudite and compelling commentary on the global economy, with Chandan providing his unique take on commercial real estate issues. Read More
*SAVE $100! Register by August 26th for early registration discount. Use Promo Code PUEB2
*Lenders receive 40% off. Discount applies to professionals who work for special servicers and the special asset group within financial institutions and government agencies.
Your conference registration includes 2 days of educational programming, along with meals and networking opportunities where you can interact with commercial lenders, special servicers, bondholders, hedge funds, private equity, distressed note buyers, portfolio buyers, in-house legal counsel, and all others who deal with distressed commercial loans.
Flagg Hotel Portfolio
Trigild was appointed receiver in connection with a long-running legal dispute between members of a family trust that owned the Courtyard by Marriott in San Luis Obispo, Courtyard by Marriott and Marriott TownePlace Suites in Thousand Oaks, Best Western Valencia, and Holiday Inn Express Valencia. Trigild was directed by the Court to take over management of the assets and make recommendations on the best resolution for the trust.
The hotels were underperforming in RevPAR compared to the competition in their respective markets, and all five were past due on their franchise Property Improvement Plans (PIPs) for a combined total of $3.7 million. The hotels were under pressure to complete the work or risk losing their brands, a loss that would greatly devalue the assets’ value. Finally, there were two years of tax issues related to the Trust.
Submarket: Central Coast and Southern California
Product: 5 hotels, 590 rooms
Performance: Hotel Portfolio sold for $4 million more than the valuation prior to receivership
Call today and let us show you how we can get results like this for your properties. 858-242-1227.
‘Quiet July’ for CMBS Deliquencies – MBA NewsLink
Cracks Widen in Maturity Wall – GlobeSt.com
Slow Growth Outlook: No Worries for Real Estate? – Commercial Property Executive
US RevPAR Forecast Lowered to 3%-4% Amid Signs of Fatigue – Hotel Online