Dornin Acquires Non-Performing Loan on San Diego Industrial

Real estate investment firm Dornin Investment Group (DIG) acquired an approximate $60-million non-performing loan off-market at Par UPB. The loan is secured by a roughly 250,000-square-foot industrial park in greater San Diego and was acquired through $41.9-million note-on-note financing from Calmwater Capital. 

DIG has closed nearly $500 million in loan purchases across the U.S. since 2020. Note purchase activity continues to strengthen considering the economic cycle and will remain a core focus for DIG in the foreseeable future. 

“This latest acquisition continues our niche strategy of acquiring well-collateralized non-performing debt on quality real estate,” said Chris Dornin, CEO of DIG. “We have had tremendous success with this investment strategy and have significant capital to deploy in this sector. We expect to close another $100 million in the next 45 days, and our pipeline exceeds $400 million.

He continued, “We are uniquely positioned to execute this strategy as a fully vertically integrated firm with deep knowledge and experience in structured finance, workouts, modifications, foreclosures, bankruptcies, asset and property management, construction management and leasing across all property types as a lender, sponsor, borrower and developer.”