After Fraud Allegations, The Patio Group's Numerous Properties Are Now Listed For Sale

January 11, 2020

Continuing the ongoing saga behind the investigation of San Diego's The Patio Group founder for an alleged $300 million "egregious fraud", many of the company's former restaurants are now listed for sale, including The Patio on Lamont, historic Saska's Steakhouse, The Patio on Goldfinch, and others.

This past summer, news broke that the U.S. Securities and Exchange Commission had filed a complaint against Gina Champion-Cain, the founder of San Diego's The Patio Group and parent company American National Investments, for allegedly operating a "multi-year, $300 million scheme that defrauded approximately 50 retail investors." The fallout resulted in the court-appointed receiver overseeing Champion-Cain's assets closing numerous Patio Group restaurants, including Himmelberg's in San Diego's East Village, Swell Coffee locations, Bao Beach, The Patio Express branches, The Patio on Goldfinch, Fireside By The Patio, and Surf Rider Pizza branches in Mission Beach and Crown Point. San Diego's Cohn Restaurant Group was designated to operate The Patio on Goldfinch, Saska's Steakhouse and Surf Rider Pizza eateries in Ocean Beach and La Mesa.
Multiple area brokers have been tasked with selling off and leasing former The Patio Group properties as the court-appointed receiver tries to recoup funds. Colliers International Group currently has the listings for four buildings including restaurant improvements and some with liquor licenses, as well as two parking lots. Collier's listings include 69-year-old Saska's Steak & Seafood, The Patio on Lamont, Swell Coffee Mission Beach and the East Village building that last housed Himmelberg's. Next Wave Commercial has the listings for the Surf Rider locations in Ocean Beach, Mission Beach, Crown Point, and La Mesa, as well as Bao Beach in Mission Beach. Location Matters has been tasked with leasing the former The Patio On Goldfinch space. The former Fireside By The Patio space in Liberty Station has already been leased by Ty Hauter of local hospitality firm Good Time Design, who will open Bondfire - a new bar and restaurant centered around open fire cooking.