Trigild Completes Receivership Hotel Sale

VALENCIA, CA—San Diego-based investor Trigild has completed the $21 million receivership sale of two hotel properties in Valencia. The two hotels are a 118-room Holiday Inn Express and a 120-room Best Western.  

Trigild was appointed the receiver for a five-property hotel portfolio owned by a family trust. Trigild had to obtain court approval to sell the properties against the will of the beneficiary trust, according to Trigild CEO Bill Hoffman. The court gave approval for Trigild to move forward on the sale of the two properties and to sell the remaining three properties in the portfolio, which are all Marriott properties located in San Luis Obispo, CA, and Thousand Oaks, CA. The remaining three properties are already under contract.