Trigild's $1.6B Job
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|Hello, San Diego! Allow us to introduce ourselves. We're the largest commercial real estate publication in the US, publishing local People Magazine-like issues in each of 17 cities. Today marks our first in San Diego. We try to keep them lively, photo-heavy, personality-oriented, highly informative, and mercifully short.|
|For our San Diego debut issue, we checked in with Trigild CEO Bill Hoffman. The firm just took over the disposition of 50 apartments and off-campus student housing complexes scattered across the country. Total value: $1.6B.|
|Bill tells us the properties—TIC deals put together by LA-based SCI Investments—reflect Trigild?s growing volume of bankruptcy work. Bill, the liquidating trustee, expects the case to take three or four years to resolve (or 126M seconds longer than the Big Bay Boom). Trigild also has been named receiver and asset manager of its first property outside the continental US: Ocean Club at Seven Seas, an $80M, 300-unit residential community in Fajardo, Puerto Rico. The company will also complete and sell 66 unfinished condos in the luxury community, which was constructed in 2007.|
|Bill at Trigild?s Lender Conference last year. It handled about 300 cases last year, and he expects the same in 2012, or more because ?we're starting to see more multi-location properties.? Trigild?s known as a company that can operate a variety of enterprises—from convenience stores and truck stops to waterparks. While it's always done a lot of hotels, which Bill expects to continue, Trigild now is handling more traditional commercial RE properties such as office buildings, shopping centers, and multifamily properties.|
|Trigild recently moved its HQ to larger digs at Genessee Executive Plaza in UTC (above), relocating from Del Mar Heights. Trigild?s getting ready to host its annual Fall Lender Conference, slated for Oct. 17-19 at the Omni. On a more personal note, Bill welcomed a new daughter-in-law last Saturday when son Eric married Tara Dolack. The newlyweds both are in the entertainment business.|