On January 27, 2025, Dornin Investment Group (“DIG”), a leading real estate investment firm, acquired a $66 million non-performing loan (“NPL”) in an off-market transaction with a national investment management firm. The defaulted loan is secured by a premier mixed-use property in an upscale Miami suburb, featuring senior living, medical office, and retail components. The acquisition was strategically financed through Note-on-Note financing provided by affiliates of TCG Real Estate and programmatic joint venture equity, showcasing DIG’s expertise in navigating complex deal structures and leveraging innovative capital solutions. Mike Guterman, Senior Vice President at Bellewether Enterprise, represented both the buyer and seller as well as arranged the financing.
With this latest acquisition, DIG continues to solidify its position as a leader in the NPL sector, having closed approximately $700 million in non-performing loan purchases across the United States. In December 2024, DIG successfully completed a $50 million NPL acquisition secured by strategically located industrial/flex real estate buildings and land in Southern California. Looking ahead, DIG aims to build on this momentum as it targets over $250 million in debt investments in 2025.
Chris Dornin, CEO of DIG remarks, “This acquisition required a highly structured approach, navigating multiple moving parts up until closing. It’s a strong start to 2025 as we continue to focus on delivering value through well-collateralized debt investments. Our goal this year is to exceed $250 million in debt investments; we are excited about the opportunities ahead.
DIG’s proven track record in non-performing loan acquisitions is backed by its ability to identify and execute value-driven opportunities nationwide. The firm targets NPLs secured by high-quality real estate assets with loan-to-value (LTV) ratios of 80% or less. DIG specializes in first trust deed positions across a wide range of property types, including industrial, office, retail, and mixed-use.
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 distressed, opportunistic, and value-add investments across all major property types, focusing 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. Since 2010, DIG has completed more than $1.9B in investments across 81 transactions. For more information, visit www.dorningroup.com.