Thursday , 27 April 2017
Breaking News

Lincoln Property Buys SD Project for $76 Million

SAN DIEGO — Trigild – a San Diego-based receivership, disposition and loan recovery specialist – has closed the $76 million sale of The Towers at Bella Terra, a 428,806-square-foot office and retail complex in Huntington Beach, Calif.  The property was sold to Lincoln Property Company in partnership with GEM Realty Capital, Inc.
 
Working with broker Eastdil Secured, Trigild facilitated the sale as receiver. 
 
Comprised of one 12-story and two six-story towers, the Class A property has 382,808-square-feet of commercial office and two retail pads totaling 45,998-square-feet.  The complex is part of the larger 70-acre Bella Terra mixed-use urban district developed by DJM Capital Partners.
 
According to Trigild president Bill Hoffman, there is a growing trend of properties selling in receivership.  “Receivers are increasingly being empowered to market and sell properties before they are foreclosed upon, resulting in higher recovery amounts,” he said. 

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