Dornin Investment Group (“DIG”), a private real estate investment firm specializing in distressed debt and value-add strategies, is pleased to announce the acquisition of an approximately $40 million non-performing senior loan secured by a recently constructed, stabilized multifamily property located in Charlotte, North Carolina.
The collateral for the loan is a mid-rise apartment complex consisting of three four-story buildings totaling 222 units built in 2022. Currently 90% occupied, the asset offers a comprehensive amenity package including a resort-style pool, fitness center, spin studio, fire pits, outdoor grills, conference room, coffee bar, pet spa, and clubhouse.
Strategically located in Charlotte’s University submarket, the property benefits from strong connectivity to the broader metro area. It is within walking distance of a light rail station offering direct access to downtown Charlotte and is conveniently situated near Interstate 85, providing access to Charlotte Douglas International Airport and other key destinations.
“This acquisition reflects our continued focus on sourcing high-quality assets in growth markets where we can unlock value through strategic resolutions on on performing loans,” said Chris Dornin, Founder and CEO of Dornin Investment Group. “Charlotte’s fundamentals remain strong, and we believe this asset is well-positioned for long-term performance.”
DIG acquired the loan through an off-market transaction arranged by Arden Gist of the Gist Group.
The acquisition was capitalized with note-on-note financing from Cerco arranged by RIPCO Real Estate’s Capital Advisory team led by Adam Hakim, Executive Managing Director; James Murad, Managing Director; and Michael Winter, Managing Director.
“This transaction showcases RIPCO’s ability to creatively structure capital for complex investment strategies. We’re proud to have partnered with Cerco and Dornin Investment Group on a financing solution that positions the asset for long-term value creation,” said Michael Winter, Managing Director at RIPCO Real Estate.
About Dornin Investment Group
Dornin Investment Group is a vertically integrated real estate investment and asset management firm focused on opportunistic and distressed investments across the Western U.S. With a disciplined approach to underwriting and execution, DIG has completed over $1.9 billion in transactions since inception. For more information, visit www.dorningroup.com.
About RIPCO Real Estate
RIPCO Real Estate is a leading commercial real estate brokerage firm, recognized for its reputation of excellence since 1991. With over 150 experienced professionals across eight offices, we are singularly guided by our ‘Street Smart, Market Wise’ ethos, delivering top-tier results through a client-first approach grounded in integrity, market insight, and expert deal-making.
Founded with expertise in retail real estate, RIPCO has grown to include capabilities across industrial, office, multi-family, hospitality, and self-storage, representing leading tenants and property owners throughout the New York Tri-State area, Florida, and key national markets. Our diverse background spans retail leasing, investment sales, debt and structured financing, and property management, consistently driving value and long-term success for clients nationwide.