DIG Acquires MXD, Apt. Assets

LAGUNA BEACH, CA-GlobeSt.com has learned exclusively that locally based Dornin Investment Group has acquired two Western US properties: Tenaya Quail East, a three-building, 54,112-square-foot distressed office, retail, flex and industrial commercial property in Las Vegas, and the Kelsey Apartments, a new 41-unit, class-A apartment building  in Los Angeles. The combined purchase price for the assets was $13.8 million, DIG president Chris Dornin tells GlobeSt.com.

Tenaya Quail East is located along the 215 Freeway near Rainbow Blvd. at 6620, 6640 and 6670 S. Tenaya Way between Summerlin and the Las Vegas Strip. The property, built in 2005, was approximately 45% leased and had been in receivership and foreclosed on at the time it was auctioned off by the lender. It was acquired all cash in a very short escrow through Auction.com for $3.25 million.