PROJECT UPDATE – March 2015
Are you registered for the Trigild Spring Conference?
The early bird discount ends on March 20th.
This day and a half educational and networking event covers the most timely and challenging topics in commercial real estate today. This year’s topics include: How Declining Oil Prices will Affect Real Estate, an in depth look at the opportunities and challenges presented by upcoming Loan Maturities, Alternatives to Bankruptcy and more. We’ve scheduled more than six networking events throughout the conference to provide attendees the chance to interact with the most respected professionals in the industry.
Sail Safely Across Receivership
by William J. Hoffman, Trigild Chairman of the Board and CEO
Reprinted from Scotsman Guide Commercial Edition, and Scotsmanguide.com, March 2015
Over the years receivership has emerged as a valuable part of the foreclosure process. Borrowers can stipulate to the appointment of a receiver to reduce foreclosure defense costs, stop hemorrhaging cash from property operations and minimize the perception of borrower failure. The receiver can even sell
the property, short-cutting the foreclosure, reducing the time and cost of recovery, and often increasing the sale price. Read More
Bankruptcy, Receivership: the Fundamental Differences
Reprinted from GlobeSt.com
March 4, 2015
SAN DIEGO-Historically the approach to handling a defaulted loan was fairly straightforward-the borrower would file bankruptcy or the lender would foreclose. In recent years other remedies, in particular receivership, have emerged as effective alternatives. That is according to William Hoffman, chairman and CEO and David Wallace, general counsel of locally based Trigild. Read More
Trigild Takes Over Flex Park in Landover, MD
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. Read More
Hotels sold for significant profit to the benefit of the trust, valued at $4 million higher than prior to the receivership
In late 2013, 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 properties and put the hotels up for sale. The properties in their individual markets were underachieving in RevPAR compared to their competition.
All five properties were past due with their respective franchises on their Property Improvement Plans at a combined total of more that $4 million and were under pressure to complete the work or risk losing their brands.
Project: Flagg Portfolio
Location: Central Coast and Southern California
# of Rooms: 590 Rooms
Product: 5 Hotels
Human Resources: +250 employees
Value Created: Improved financial performance and operations – Successfully managed the individual brand relationships which positioned the five assets for a disposition value that exceeded expectations
Call today and let us show you how we can get results like this for your properties. 858-242-1191
Trigild in the News
Trigild Appointed Receiver for $17.5 Million Maryland Property
Wednesday, February 25, 2015
Breaking Into the Old-Boys’ Club of CRE
Friday, February 20, 2015
- April 22-23, 2015, Trigild Spring Lender Conference Dallas, TX
- May 4-6, 2015, Meet the Money in Los Angeles, CA (Judy Hoffman, Moderating; Jeff Santoni, Attending)
- May 12-13, 2015, Commercial Real Estate Financial Summit in Santa Monica, CA (Nancy Daniels, Attending; Brian Morelan, Attending)
CMBS Defeasance Surges Thanks to CRE Liquidity – MBA NewsLink
What the Wall of Maturities Means – Commercial Observer