The transaction involved the acquisition of a non-performing senior loan secured by a newly constructed, Class A multifamily property located in Seattle, Washington. The sale price for the note was $42,000,000, encompassing a total of 74,000 square feet, resulting in a price per square foot of $567.

Summary of transaction details:

• Property Type: Note / Loan
• Transaction Amount: $42,000,000
• Buyer: Chris Dornin – Dornin Investment Group
• Broker: Michael Winter - Ripco
• Market: Seattle
• Square Footage: 74,000
• Price per Square Foot: $567

The buyer, Chris Dornin, represents Dornin Investment Group, a private real estate investment firm that specializes in distressed debt and value-add strategies. The transaction was facilitated through note-on-note financing provided by a national debt fund and was advised by a team led by Michael Winter at Ripco Real Estate.