Dornin Investment Group Acquires $60M Non-Performing Loan With Calmwater Capital Financing

The acquired property by Dornin Investment Group is an approximately 250,000 square foot industrial park located in greater San Diego, CA. The non-performing loan secured by this property was purchased for $60,000,000 with a price per square foot of $240. The acquisition was financed through a note-on-note financing of $41.9M from Calmwater Capital.

Summary of transaction details:

• Property Type: Note / Loan
• Transaction Amount: $60,000,000
• Buyer: Dornin Investment Group
• Seller: Nationwide debt fund
• Lender: Larry Grantham - Calmwater Capital
• Market: San Diego, CA

On June 20, 2024, real estate investment firm Dornin Investment Group successfully acquired this significant non-performing loan through an off-market transaction. The loan, which is backed by the industrial park, was purchased from a nationwide debt fund. The transaction was facilitated with the assistance of Larry Grantham from Calmwater Capital, who provided note-on-note financing for the purchase.