Dornin Investment Group Refinances NPL Investment with $31.5M Loan
Laguna Beach, CA - May 10, 2024. Dornin Investment Group (“DIG”) refinances one of its non-performing loan investment positions with a $31.5M note-on-note loan from Maxim Capital Group.
Chris Dornin, DIG CEO, states, “This event-driven transaction goes to show DIG’s commitment to creatively structure deals to increase yield and return capital to investors. DIG was able to take cash out and lock in a lower rate despite a challenging debt capital market environment.”
Tyson Bryan, DIG Assistant Vice President of Investments, adds, “We’d like to thank Adam Glick, Josh Greene, and David Chillura at Maxim. The underlying asset, history, and investment dynamics are complex, and we came away impressed with Maxim’s ability to creatively navigate through the nuance. Prepayment flexibility and a straight-forward lending process made Maxim the partner of choice – it clearly shows with execution of the refi occurring just a month after term sheet execution.”
DIG with investment partner, Sabal Investment Holdings, purchased the NPL in January 2023, which is secured by an over 800-bed student housing project in Pullman, WA.
Mark Nicoletti at Allen Matkins served as legal representation for DIG and Valerie Rapp at Fidelity National Title served as Escrow Officer.
About Dornin Investment Group
Dornin Investment Group (“DIG”) is a fully integrated real estate private equity investment firm with offices in Laguna Beach, CA and Las Vegas, NV. DIG specializes in distressed, opportunistic, value-add and core plus real estate related investments. The firm invests throughout the capital stack including equity, performing, sub and non-performing debt across all major property types. The company offers a full-service investment platform providing asset and property management, leasing, design services, construction management and capital markets advisory services through its wholly owned subsidiary Dornin Realty Advisors. Since inception the company has acquired, developed, and sold nearly $1.7 billion of real estate related investments including fee title and debt investments in multi-family, office, flex, industrial, retail and hospitality properties throughout the United States. For more information, visit www.dorningroup.com.
About Sabal Investment Holdings
Sabal Investment Holdings (“Sabal”) is a fully integrated real estate investment advisory firm, headquartered in Irvine, California with over $1B of AUM. The cornerstone of Sabal’s strategy is workforce and affordable housing. Sabal supplements this core portfolio with carefully selected special situation equity and debt investments in the commercial real estate market including structured credit, lending solutions, and opportunistic investments. For more information, visit https://lnkd.in/gsbRTJre .
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