Walmart-Shadowed Retail Strips In Liquidation Play
San Diego-based Trigild will be maximizing recovery for the creditors of Coldwater Portfolio Partners as liquidating trustee for a $50M portfolio of 37 strip retail centers totaling 600k SF. Managing director Brian Morelan says the properties--in 17 states--range from 9,000 to 37k SF, house high-profile tenants like Dollar Tree and Radio Shack, and are all shadow-anchored by a Walmart. (That means Walmart protects them from getting sunburned.) The property/asset management and fiduciary company has provided day-to-day management since June. South Bend, Ind.-based Coldwater filed for voluntary Chapter 11 bankruptcy in April 2012 and formally went out of business this past August.