Nathan Dunn’s Post

Dornin Investment Group acquires 20 building Northern NV Industrial Portfolio for approximately $70MM April 12, 2024 - Dornin Investment Group (“DIG”) is pleased to announce the acquisition of a 20 building 413,172 SF portfolio of light industrial properties in Reno/Sparks, Nevada and select retail and medical office assets in Northwest Reno, Nevada. The portfolio was sourced off-market after purchasing two adjacent light industrial buildings in December 2024 and came to fruition through a long-standing relationship with The Ribeiro Companies as a tenant over a decade ago. DIG CEO, Chris Dornin remarks, “Mr. Ribeiro and his team have set a remarkably high standard of how to carry properties from development to multiple decades of stewardship. The Ribeiro Companies has an incredible reputation throughout Nevada and it’s evident in the condition of the buildings, the quality of the rent roll, and the team’s professionalism throughout the transaction. We look forward to carrying on the Quail’s legacy in the region.” The majority of buildings were constructed between 1977 and 1991, with retail assets built in 2005-2006. The portfolio collectively has over 180 total tenants with a median unit size of 1,640 SF. The office buildout of the warehouse units is 21.7%. The industrial building clear heights range 12-16 feet. The average tenancy has been in place since 2019 with some tenants in place since 1994. At acquisition, rents were on average 30.5% below market rates and had a WALT of approximately one year. DIG’s business plan focuses on rolling rents to market, addressing specific capital improvement items, and implementing targeted cosmetic upgrades. DIG overcame varying obstacles inclusive of transactions with 10 distinct entities, 20 buildings across product types and varying unit sizes; a ground lease, seller carry debt structure, minor environmental exposure, and multiple rolling leases through closing. DIG capitalized the transaction with seller financing and bridged high net worth capital with equity from Prime Finance. Mark Nicoletti, Maxwell Shapiro, and Julia Lewitt of Allen Matkins provided legal expertise and were instrumental throughout the complicated transaction. Bill Bernard and Tami Haworth of Stewart Title provided title and escrow services. Jonathan Armour of Dividend Realty Group provided due diligence Services. DIG Acquisitions Team: Chris Dornin, Philip R Smith, Tyson Bryan Addresses of Properties Purchased: 745/755 E Greg Street, Sparks, NV 50/150 Freeport Boulevard, Sparks, NV 240/260 Freeport Boulevard, Sparks, NV 340/360 Freeport Boulevard, Sparks, NV 1320/1350 Freeport Boulevard, Sparks, NV 250 Cal Lane, Sparks, NV 1080 Linda Way, Sparks, NV 5325 Louie Lane, Reno, NV 5401 Longley Lane, Reno, NV 5301 Longley Lane, Building E, Reno, NV 1575/1595 Robb Drive, Reno, NV 6300 Mae Anne Avenue, Reno, NV 6120 Mae Anne Avenue, Reno, NV #DIG #CRE #Reno #Sparks #Nevada #Industrial #Portfolio #Acquisition

I am delighted to announce the acquisition of Arkade Property, an incredible estate and letting agency based in the Jewellery Quarter. In a world where corporates seem to be taking over the independents, maybe this will give the smaller agents a tiny bit of hope that we CAN compete, and for the better as well. We will grow, but still maintain our 5* customer service. That personal touch will NOT be lost because the people involved in any company purchase, are also heavily involved in the day to day operations of the business. To put it bluntly, ‘we care’! AND any company we buy MUST have the same ethos as Davidson’s or it just won’t work. Hope is not a strategy, there must be an element of logic and meaning to everything you do in business so I can assure all our clients and customers that whilst we may grow further through acquisition, you will not see a drop in service. If anything, it will get better. Most of the lovely people from Arkade have come over to Davidson’s as well to maintain their superb relationships and customer service built over the last 25 years. The transition will be a seamless one, I guarantee that. I thank everyone that has supported the company over the years and long may that continue. I would also like to thank Andrew Love and Melissa Petros for their continued loyalty to me and the company, without whom this journey would not be possible. #property #development #investment #london #estateagent #estateagency #lettings #lettingsagent #lettingsagency #propertymanagement #propertydevelopment #propertydeveloper #realestateagent #realestatebroker #newhomes #newhomesales #acquisitions https://lnkd.in/emGB5WRk

99% of successful real estate acquisitions come down to having good checklists. This lesson was driven home when I spent weeks in due diligence for a self-storage deal—only to have the deal fall through at the last minute. Here are some components to consider for your checklist: ● Assess Demand: Understand the vacancy rates of nearby competitors to gauge market demand. We aim for competitors to be at least 90% occupied. ● Median Household Income: Higher median household incomes often mean greater affordability and sustainability of the rental rates you plan to charge. We aim for a median household income of at least $80,000. ● Population Size: A larger population increases the pool of potential tenants. Prioritize areas with stable or growing populations. We look for at least a 30,000-person population within a 3-mile radius and 50,000-person population within a 5-mile radius. ● Cost Per Square Foot Rates: This helps you budget accurately and assess the financial viability of your project.  ● Assess Supply: Identifying markets with limited supply allows you to capitalize on unmet demand, leading to quicker lease-ups and better rental rates. Self-storage is hyper-local so there needs to be a lack of supply within a 3-5 mile radius. ● Zoning: Ensure the property is zoned appropriately for your intended use to avoid legal hurdles and delays. Industrial or light industrial are typically the zoning requirements but sometimes commercial allows self storage. What other criteria do you include in your acquisitions checklists?

La Rosa Property Management Announces Intent to #Acquire Celebration Corporate Center LLC Along with its #Commercial Real Estate   Reaffirms target to generate $100 million of annualized revenue as a 2024 exit run rate   La Rosa Holdings Corp. (Nasdaq: LRHC), a holding company for five agent-centric, technology-integrated, cloud-based, multi-service real estate segments, today announced that it has entered into a non-binding Letter of Intent to acquire Celebration Corporate Center LLC. The Company expects to acquire this entity through its wholly-owned subsidiary, La Rosa Property Management LLC ("LRPM"). As a result of the acquisition, LRPM will become a direct owner of Celebration Corporate Center LLC and its commercial real estate located in Celebration, Florida. LRPM specializes in property management services for owners of single-family residential properties and manages a diverse portfolio of properties across Florida. The Company anticipates finalizing the transaction in the third quarter of 2024.   https://lnkd.in/estqDkd4   #LaRosaHoldings #RealEstate

**Another Week, Another Building Company Collapses** This week, we watched as the Collier Homes was placed into liquidation. While many might see this as the end of the road, it’s a stark reminder of the critical need for holistic advice before such drastic measures are taken. When a business faces financial distress, the immediate reaction might be to consider liquidation as the only viable option. However, this can often be a premature decision that doesn’t consider the full spectrum of alternatives available. Before pulling the plug, it’s essential to seek holistic advice from advisers who understand every practical aspect of a Liquidation, but is not your Liquidator as they have a fiduciary responsibility to the Company’s creditors, not the business owner. Here’s why: **Understanding the Full Picture:** Liquidators play a crucial role, but their primary focus is to wind up the company, investigate the dealings of the Company and deal with creditors. If you are looking at trying to save the business, a Liquidator is not going to tell uou how to do that because they represent the Company’s creditors. However we need to look at the full picture including the business owner’s personal financial position as well as all aspects—financial, operational, strategic—to understand the underlying problems and explore all possible solutions. **Exploring Alternatives:** There are often numerous strategies that can be implemented before deciding on a liquidation. This could include restructuring the business, renegotiating debts, or even seeking new investment. For Collier Homes, perhaps earlier intervention with a focus on strategic overhaul might have redirected their path. **Saving More Than Just the Business:** For most business owners, their company is not just a source of income; it’s a significant part of their lives and, often, their identity. Losing it can have profound personal and professional repercussions. Holistic advice aims to protect not only the business but also the owner’s personal assets and mental health. **Making an Informed Decision:** Knowledge is power. Understanding the complete health of your business and the implications of each available option helps business owners make informed, rational decisions rather than reactionary ones based on financial panic. **The Cost of Getting It Wrong:** The story of Collier Homes is not unique. The building industry is fraught with examples of companies that could have survived or at least mitigated losses with better upfront advice. The cost of getting it wrong is not just financial; it affects employees, customers, suppliers, and the wider community. If you are a business owner facing financial difficulties, don’t wait until it's too late. Reach out for a holistic financial consultation. Let’s discuss your situation in a free 20-minute meeting—my DMs are always open to you. #DebtSolutions #AustralianBusiness #BusinessAdvice #LiquidationAwareness #AustralianDirectors

La Rosa Property Management Announces Intent to #Acquire Celebration Corporate Center LLC Along with its #Commercial Real Estate   Reaffirms target to generate $100 million of annualized revenue as a 2024 exit run rate   La Rosa Holdings Corp. (Nasdaq: LRHC), a holding company for five agent-centric, technology-integrated, cloud-based, multi-service real estate segments, today announced that it has entered into a non-binding Letter of Intent to acquire Celebration Corporate Center LLC. The Company expects to acquire this entity through its wholly-owned subsidiary, La Rosa Property Management LLC ("LRPM"). As a result of the acquisition, LRPM will become a direct owner of Celebration Corporate Center LLC and its commercial real estate located in Celebration, Florida. LRPM specializes in property management services for owners of single-family residential properties and manages a diverse portfolio of properties across Florida. The Company anticipates finalizing the transaction in the third quarter of 2024.   https://lnkd.in/eDbH5226   #LaRosaHoldings #RealEstate

There's the potential for a big shake up in the new-build property sector, following the announcement of a planned Barratt Developments acquisition of Redrow. The planned changes would make Barratt Developments the largest homebuilder in the UK, knocking Taylor Wimpey from the top spot as the FTSE 100's largest homebuilder. Barratt say the merger will "bring together two highly complementary companies, creating an exceptional homebuilder in terms of quality, service and sustainability, able to build more of the high-quality homes this country needs." What will these changes have in store for the buyers of new homes and the UK housing market as a whole? https://lnkd.in/eSVHj9Z8

Expertise in Block Acquisitions: Streamlining Your Property Sourcing and Sales Welcome to Citywide Blocks, where our specialty lies in the seamless acquisition of residential blocks of flats. As seasoned professionals in the property sector, we bring over two decades of expertise directly to our partners, facilitating lucrative opportunities and swift transactions tailored to the fast-paced property market. Our Mission  At Citywide Blocks, our mission is straightforward: to empower property sourcers and investment companies by streamlining the process of acquiring and divesting residential blocks. We understand the dynamics of quick sales and the necessity for rapid, reliable transactions. Our team is committed to providing solutions that enhance your operations, helping you turn around properties with speed and profitability. Why Partner with Us?  Targeted Expertise: We focus solely on blocks of flats, which allows us to offer specialised knowledge and tailored services that enhance the value and liquidity of your investments. Rapid Transaction Capability: Our robust financial backing and deep market insights enable us to close deals quickly, making us an ideal partner for investment companies looking for quick turnovers. Strategic Partnership: We act not only as buyers but also as strategic partners, helping you offload excess inventory, navigate market fluctuations, and maximize returns without the operational overheads of traditional sales channels. Comprehensive Support: From due diligence to closing deals, we provide comprehensive support that ensures each transaction is smooth, transparent, and aligned with your business goals. Expanding Your Opportunities: By partnering with us, you gain access to an extended network of ready buyers and a continuous stream of investment opportunities that can significantly enhance your portfolio's performance. Join Our Network  If you’re an independent property sourcer or a property investment company that thrives on the fast-paced buying and selling of properties, Citywide Blocks is your ideal partner. We understand the unique challenges and opportunities of dealing exclusively with blocks of flats and are here to help streamline your transactions and expand your opportunities. Partner with us to experience a business relationship that values efficiency, transparency, and profitability. Let’s work together to achieve exceptional results in the block of flats market. Connect with us today to explore how we can enhance your property sourcing and selling strategies.

When buying a business real property, such as a commercial property, an important first step is confirming what assets are being acquired as part of the deal. https://bit.ly/4bBiUoY

Interesting news from the residential real estate world as Parks, Nashville's largest real estate firm, is slated to merge operations with Compass. The merger will mean that roughly 25% of Nashville residential agents will sit under the umbrella of Compass. In the wake of the NAR verdict, many major residential brokerages, including Compass, have opted to settle. With the prospect of lower commissions on the horizon and overall lack luster stock performance, Compass' increasing total agent count is a great way to drive additional revenues. Will be interesting to see what the future holds for regional brokerages who may be the next targets for compensation claims following the NAR class action suit. Mergers with national firms who have already settled could be a path forward to absolve those firms of potential payouts.