On June 30, 2023, real estate investment firm Dornin Investment Group (“DIG”) acquired the first and second trust deeds secured by a 347,000 SF development project in the Los Angeles Arts District. The property was recently appraised as-is for over $60M. The note was purchased in 24 days, start to finish.

DIG has acquired approximately $500M in sub- and non- performing debt throughout the U.S since 2020. Note purchase activity is expected to remain a core focus at DIG with several other debt investments under evaluation.

Tyson Bryan, Assistant Vice President of Investments at DIG, states “DIG continues to seek debt investments from banks and debt funds on well collateralized real estate nationwide where yield can be achieved thru accrued interest, minimum interest and exit fees at or near PAR.  This was another example where a maturity default coupled with a challenging borrower made more sense for the lender to move this loan off their balance sheet than invest its resources enforcing the loan agreement and fighting for a payoff.”

DIG acquired the note from a regional bank. Mark Nicoletti and David Zaro at Allen Matkins provided legal expertise on the transaction and Wendy Hagen and Christine Siegel at First American Title provided title and escrow services.

About Dornin Investment Group
Dornin Investment Group (“DIG”) is a fully integrated real estate investment firm with offices in Laguna Beach, CA and Las Vegas, NV. DIG invests in commercial and residential real estate across the capital stack in partnership with a broad base of institutional and private investors. The firm specializes in opportunistic and value-add investments in all major property types with a focus on office, flex, industrial, multifamily, and hospitality properties in addition to non- and sub-performing loans. DIG’s full-service investment platform includes asset and property management, leasing, design services, construction management, and capital markets advisory services through its wholly owned subsidiary, Dornin Realty Advisors. For more information, visit www.dorningroup.com.