Chris Dornin Of Dornin Investment Group Acquires $66M Non-Performing Loan In Aventura, FL
$66,000,000
$165/SF
Building Size
400,000 SF
Asset Type
Note / Loan
Closing
Jan 27, 2025
AI
A non-performing loan was acquired in an off-market transaction, which is secured by a mixed-use property located in an upscale Miami suburb. The property encompasses senior living, medical office, and retail spaces and represents a significant investment within the real estate market.
Summary of transaction details:
- Property Type: Note / Loan
- Transaction Amount: $66,000,000
- Lender: Brian Sedrish - TCG Real Estate
- Buyer: Chris Dornin - Dornin Investment Group
- Broker: Michael Guterman - Bellwether Enterprise
- Loan Type: Equity
- Market: Aventura, FL
- Asset Size: 400,000
Mike Guterman, serving as the Senior Vice President at Bellwether Enterprise, represented both the buyer and seller in this transaction and facilitated the financing, ensuring a comprehensive approach to this high-value deal.
Players
Miami Note / Loan Market Snapshot
Boundary boundary · Note / Loan · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93