Search
 

DIG Acquires MXD, Apt. Assets

LAGUNA BEACH, CA-GlobeSt.com learns exclusively that the company snags Tenaya Quail East in Las Vegas and the Kelsey Apartments in Los Angeles.

By Carrie Rossenfeld | Updated on January 15, 2013

LAGUNA BEACH, CA-GlobeSt.com has learned exclusively that locally based Dornin Investment Group has acquired two Western US properties: Tenaya Quail East, a three-building, 54,112-square-foot distressed office, retail, flex and industrial commercial property in Las Vegas, and the Kelsey Apartments, a new 41-unit, class-A apartment building  in Los Angeles. The combined purchase price for the assets was $13.8 million, DIG president Chris Dornin tells GlobeSt.com.

Tenaya Quail East is located along the 215 Freeway near Rainbow Blvd. at 6620, 6640 and 6670 S. Tenaya Way between Summerlin and the Las Vegas Strip. The property, built in 2005, was approximately 45% leased and had been in receivership and foreclosed on at the time it was auctioned off by the lender. It was acquired all cash in a very short escrow through Auction.com for $3.25 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.