Dornin Buys Seven Hills MOBs in Henderson
- Jul 03, 2014
Seven Hills Medical Center in Henderson was recently acquired by Dornin Investment Group in an all-cash deal. The buyer acquired the medical office buildings located in the planned Seven Hills community as part of a 1031 exchange arranged on behalf of the buyer and seller by Jason Lesley of Colliers International.
The buildings are located near the I-215 and I-15 freeways near St. Rose Hospital, MacDonald Ranch, Seven Hills, Anthem and Silverado Ranch. The two-story facilities were developed in 2006 and offer a total of 43,000 square feet of space. Located at the entrance to the upscale Seven Hills development. At the time of the transaction, the property was 93 percent occupied by multiple tenants.
According to the Chris Dornin, CEO & president of Dornin Investment Group, the acquisition helps the company consolidate its Las Vegas area portfolio by adding “two high-quality, well-leased medical office buildings with strong going in yields at a substantial discount to replacement cost, and rents well below previous market highs.”
Dornin Investment Group invests in commercial and residential real estate in partnership with a broad base of institutional and private investors. The company invests in distressed, opportunistic and value-add assets in all major property types. Through its Dornin Realty Advisors affiliate, the company also provides leasing, property management, finance and construction management.