Glendale Marketplace is an open-air shopping center in Glendale CA, a sub-market of LA across from the Americana and Galleria, with approximately 155,000 square feet of GLA. Our role was to stabilize the asset during COVID shutdowns, manage day-to-day operations, complete tenant fit-outs and sell the property through an open marketing process. When we got involved, occupancy was 90% and collections were below 30%. The business plan was to reopen the center as soon as possible under CA restrictions, complete tenant fit-outs to get all tenants operating and paying rent. Throughout the course of the project, we negotiated a settlement with City regarding parking fees and taxes, opened LA Fitness, extend our loan with Citizens Bank, and hired JLL to market and sell the property. Ultimately, we received 9 bids and sold the property to PineTree.