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Dornin Acquires $78M NPL on Brooklyn Multifamily Project
Dornin Investment Group (DIG), a private real estate investment firm specializing in distressed debt and value-add strategies, has acquired a $78-million non-performing loan on a 131-unit, 101,000-square-foot multifamily community to be developed at 57 Caton Pl. in Brooklyn’s Windsor Terrace neighborhood. The transaction was structured and financed through a combination of debt and equity arranged by RIPCO Real Estate on behalf of DIG.
Managing director Michael Winter, executive managing director Adam Hakim and managing director James Murad at RIPCO facilitated the transaction, securing both the debt and equity from a private equity fund. The acquisition provides an opportunity for DIG to continue applying its expertise in distressed assets.
“RIPCO’s innovative capital solution allowed us to move decisively on a complex multifamily NPL that aligns perfectly with DIG’s investment strategy,” said DIG founder and CEO Chris Dornin “This acquisition reflects our continued momentum in the distressed credit space. With the right capital structure in place, we’re positioned to efficiently resolve the loan and unlock long-term value.”
- ◦Sale/Acquisition
- ◦Financing
