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PROJECT UPDATE – September 2016

Key Lending Issues to Watch – Trigild Fall Lender Conference

from GlobeSt.com
Hoffman: “The compelling question is: is there enough liquidity in the market to refinance the $160 billion in maturing CMBS debt, and if not, who will fill this gap?”

Risk retention, bank regulations, where lenders think we are in the CRE cycle and interest rates are the main things impacting the commercial real estate lending sector in the immediate future, Trigild’s president Judy Hoffman tells GlobeSt.com. Trigild will be hosting its 16th annual lender conference here next month, which will deal with issues related to non-performing commercial real estate loans. We spoke exclusively with Hoffman about some of the key topics to be addressed at the conference, including looming CMBS debt and interest-rate uncertainties. Read More

Register or Learn More about the Trigild Fall Lender Conference

The 650-acre Malibu Golf Club sells in receivership for $30.5M

from The Real Deal
The Malibu Golf Club, which went bankrupt for a second time last year, has sold in a receivership sale for $30.5 million.

The 18-hole property on a 650-acre site at 901 Encinal Canyon Road, nestled in the Santa Monica Mountains Recreational Area, sold to Shinhan Golden Faith International Development Limited, a holding company with major shares held by M.O. Company of Beijing, according to the Panama Papers.
The site is fully entitled for future development as a health and wellness golf institute, according to Fred Cordova of Kennedy Wilson, who represented the property’s court appointed receiver, Trigild CEO Bill Hoffman, in the receivership sale. Read More

Case Study:

Located in Santa Fe, New Mexico’s historic retail center, Trigild assumed management of the foreclosed market center in 2012. After its successful sale in 2015 to a nonprofit foundation, we successfully managed the transition process to retain income while the property obtained its entitlements to become an art school.

  • The property’s original problems can be attributed to the following factors:
  • A large anchor tenant, occupying 36% of the property, had vacated, decreasing the property value and foot traffic for other tenants.
  • Numerous expired leases, with tenants demanding rent decreases due to poor sales.
  • Prior poor management that included deferred maintenance, poor tenant relations, and a lack of marketing.
  • A challenging retail leasing market

Property Type: Retail Upscale Shopping Center
Location: Santa Fe, New Mexico
Size: 85,000 sq. ft., 6 buildings
Value Created: The asset sold at auction, at a higher than projected sales price due to successful marketing of alternative uses for the property.

Click here to see how.

Call today and let us show you how we can get results like this for your properties. 858-242-1227.

Trigild’s Most Recent Projects

  • Receiver for 580,000 sq. ft. retail property in Ohio
  • Receiver for 342,000 sq. ft. retail property in Indiana
  • Receiver for 155,000 sq. ft. retail property in Ohio
  • Receiver for 75,000 sq. ft. retail property in Ohio
  • Receiver for 70,000 sq. ft. retail property in Ohio
  • Receiver for 90,000 sq. ft. retail property in Ohio
  • Receiver for 130,000 sq. ft. retail property in Ohio
  • Receiver for 235,000 sq. ft. retail property in Ohio
  • Receiver and Manager for 11 story, 240 unit multifamily complex in Alabama
  • Receiver and Manager for office property in California

Industry News

Commercial/Multifamily Delinquencies Remain Low in Second Quarter – MBA

The Contrarian Signal in the REIT Breakout – Bloomberg

Flooding in Louisiana Creates Uncertainty for Roughly $1.1 Billion in CMBS Loans – Urban Land Institute

As Anchor Stores Close, Co-tenancy Clauses Can Still Cause More Problems – NREI

Commercial Real Estate Outlook 2016.Q3 – National Association of Realtors