Trigild Named Receiver for Seven Commercial Office, Industrial Properties Nationwide

SAN DIEGO, CA, November 14, 2010 (Press-News.org) San Diego based Trigild, a distressed real estate, loan recovery and real estate specialist, has added 11 commercial office and industrial properties totaling more than three million square feet to its growing portfolio of distressed commercial real estate.

As the court appointed receiver, Trigild is charged with operating, repositioning—and protecting— the properties, all currently facing foreclosure.

The properties span the country and are located in Wilmington, Del.; New Orleans, La.; San Diego, El Monte, Newport Beach, Seal Beach and Irvine, Calif.; Columbus, Ohio; and Glen Burnie, Md. Highlights include:

Bixby Properties, five office Orange County complexes totaling 11 structures and more than 800,000-square-feet of space: 1201 Dove Street, Newport Beach, Calif.; Bixby Office Park, 3010, 3020 and 3030 Old Ranch Parkway in Seal Beach, Calif.; Newport Summit, 19600 and 19700 Fairchild Road, Irvine, Calif.; Redstone Plaza, 1300 Dove Street and 4041 MacArthur Boulevard, Newport Beach, Calif.; and Inwood Park, 17300, 17310 and 17320 Red Hill Avenue, Irvine, Calif.

Scripps Corporate Plaza, three buildings spanning 244,270-square-feet, 10650-10680 Treena Street, San Diego, Calif.

1010 Commons, a 500,000 square-foot-office building, 1010 Common Street, New Orleans, La.

Citizens Bank Center, a 500,000-square-foot office building, 919 North Market Street, Wilmington, Del.

FIP Realty, an industrial center consisting of 14 buildings totaling 968,000-square-foot, 1879 Federal Parkway, Columbus, Ohio.

Empire, a 250,000-square-foot office building, 7300 and 7310 Governor Ritchie Highway, Glen Burnie, Md.

El Monte, a self-storage facility with 1,121 units, spanning 110,000-square-feet, 11310 Stewart St., El Monte, Calif.

Trigild now represents more than six billion in defaulted loans, and anticipates a significant increase in its receivership business within the next few months. "With several hundred billion dollars' worth of hotel, office, industrial, retail and multifamily facing foreclosure within the next few years, the need for our services continues to accelerate," Hoffman said.
Headquartered in San Diego with regional offices throughout the country, Trigild has more than 30 years of expertise in managing a wide array of distressed commercial real estate assets and operating businesses. Specializing in non-performing commercial loans, Trigild combines receivership, operations management, and disposition services under one roof -- for maximum loan recovery. Trigild is located at 12707 High Bluff Drive, Suite 300, San Diego, 92130. For further information, visit http://www.trigild.com.

CONTACT: Sydnie Moore (619) 823-8448 moore2com@aol.com