Dornin Investment Group acquired a $54 million non-performing loan portfolio secured by 20 properties. The acquisition was financed through a combination of debt and equity arranged by Bellwether Enterprise on behalf of DIG.
The NPL, acquired from a New York–based debt fund, is secured by a portfolio that includes four office properties in Texas totaling approximately 870,000 square feet and 16 single-tenant NNN retail assets located across the Southeast and Midwest. The transaction represents the second acquisition between DIG and this lender.
Mike Guterman, Senior Vice President in BWE’s Los Angeles office, arranged the acquisition capital from a large private equity fund. Following closing, the venture intends to secure 60% note-on-note financing to enhance leverage.
