Chris Dornin Of Dornin Investment Group Acquires Office And Retail Portfolio For $54M
SOLD
$54,000,000
Texas
See Similar DealsOffice870,000 SF
Sold 10/17/2025
SOLD
Chris Dornin Of Dornin Investment Group Acquires Office And Retail Portfolio For $54M
Office870,000 SF
Sold 10/17/2025
Summary
TEXAS
Asset Type:Office
Price Per Square Foot:$62
Total Square Footage:870,000 SF
Transaction Type:Sale
Office & Retail Portfolio encompassing 20 properties across Texas, Michigan, Alabama, and Wisconsin. The total sale price amounted to $54,000,000, covering a substantial area of 1,100,000 square feet, which results in a price per square foot of $49.
Summary of transaction details:
- Property Type: Office & Retail Portfolio
- Transaction Amount: $54,000,000
- Square Footage: 1,100,000 SF
- Address: Texas, Michigan, Alabama, Wisconsin
- Market: Nationwide
- Buyer's Name: Chris Dornin
- Buyer's Company: Dornin Investment Group
- Buyer's Representative: Mike Guterman
- Brokerage: Bellwether Enterprise (BWE)
This transaction involved a non-performing loan acquisition, with debt and equity financing arranged by Bellwether Enterprise. Notable individuals participating in the deal include Chris Dornin and Mike Guterman, who played key roles in representing the buyer throughout the process.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,880,000.00
Debt Service Coverage Ratio (DSCR)
0.70x
Cap Rate
5.33%
Cash Flow (Annual)-$1,215,800.79
Cash-on-Cash Return-75.05%
Monthly Debt Service$341,316.73
Annual Debt Service$4,095,800.79
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