◀ Back     Trigild What We've Done Case Studies Fort VII

Success Stories

Fort VII

Property Type: Class A Office

Location: Houston, TX & Minneapolis, MN

Year Built: 2002

SF: 225,000 SF

Challenges: Geographically Varied Portfolio, Cost Control

Value Created: 20% Reduction in OPEX Achieved 100% Occupancy

BACKGROUND
When confronted with a complicated Tenants-In-Common (TIC) Borrower default, the special servicer looked to Trigild in order to guarantee the smooth management operations of two cross – collateralized assets in diverse markets, separated by thousands of miles.

APPROACH

  • Took advantage of our nationwide reach which became critical to the takeover and management of these class A assets
  • Implemented a two prong strategy: 1) provided the high level of service expected for Class A Offices; and 2) maximized efficiencies thereby reducing costs
  • Incorporated our LEAN operating principals that included the proper allocation of personnel and in certain cases changed to vendors that offered better price and service levels

PERFORMANCE SUMMARY

  • Reduced operating costs by 20%
  • Stabilized the properties and began a market analysis and disposition process to maximize the value of both assets through open market sales.