Trion Properties Receives Multifamily Payoffs, Makes New Acquisitions

SACRAMENTO and LA MESA, CA—Trion Properties, a Los Angeles-based real estate investment company, has recently received a payoff of four loans from the owner of the four apartment properties encumbered by the debt. Trion also recently acquired a 21-unit multifamily property in La Mesa, CA and a 57, 254 square foot shopping center in Visalia, CA. These transactions continue the high volume of activity the company has generated over the past year with eight acquisitions and renovations along with five dispositions.

In mid-2012 Trion acquired a portfolio of notes at a discount to the unpaid principal balance of approximately $7,000,000. The notes had only a few months before maturity and were secured by four properties containing 224 apartment units in the Arden-Arcade submarket of Sacramento. Trion acquired the notes directly from a national lender and was subsequently able to work with the borrower on the timing and payoff of the loans, ultimately helping the borrower retain the assets and allowing Trion to exit without having to take title to the real estate.