LOS ANGELES-Dornin Investment Group has acquired $15 million in notes secured by a portfolio of multifamily and commercial assets.
The notes were purchased at a discount and secured in an all-cash deal from two lenders in less than two weeks. Properties include a 150-unit multifamily in Northern L.A. County, an industrial building in San Clemente and four small multifamily properties in Orange County.
DIG is seeking to free up capital for additional acquisitions and to leverage its position. The notes are performing and DIG claims they provide a 5% return on outstanding loan balances.
“We continue to be opportunistic and capitalize on strong investment opportunities where our experience, speed and access to capital to close transactions quickly separates us from the typical buyer,” said a statement from Chris Dornin, president of DIG.
Dornin Investment Group is a real estate investment and asset management firm that invests in commercial and residential real estate in partnership with a broad base of institutional and private investors. The firm specializes in distressed, opportunistic and value-add real estate investments in all major property types, with a focus on multifamily, office and industrial properties and notes.
The company also offers property management, leasing, construction management and finance through its wholly owned affiliate Dornin Realty Advisors.
As reported earlier by GlobeSt.com, Dornin Investment Group acquired two properties in Orange County earlier this year for $13.8 million.
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