June 13, 2014 – Seven Hills Medical Center consists of two Class A medical office buildings located in Henderson, Nevada. The properties are two identical, two-story medical office buildings totaling approximately 43,000 SF built in 2006. They are strategically located in the upscale master planned community of Seven Hills, with access to the I-215 and I-15 freeways, and in close proximity to St. Rose Hospital, MacDonald Ranch, Seven Hills, Anthem, and Silverado Ranch. The properties are situated within a preferred Henderson location, strategically located on the SEC of Seven Hills & Horizon Ridge, just south of St. Rose Parkway, and conveniently located at the entrance to Seven Hills offering Las Vegas Strip Views.
The properties were 93% occupied at the close of escrow by a solid mix of medical office tenants and offer a compelling upside through below market rents and an improving economy. "This acquisition represents our continued commitment to expanding our presence in the Las Vegas market," said Chris Dornin, CEO, President, and founder of Dornin Investment Group. "We are seeing meaningful increased leasing activity in our Las Vegas portfolio and these properties represented an outstanding opportunity to acquire 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."
About Dornin Investment Group
Dornin Investment Group(“DIG”) is a real estate investment and asset management firm that invests in commercial and residential real estate in partnership with a broad base of institutional and private investors. The firm specializes in distressed, opportunistic and value-add real estate investments in all major property types with a focus on office, flex, industrial, multifamily and hospitality properties. The company offers a full service investment platform providing property management, leasing, construction management and finance through its wholly owned affiliate Dornin Realty Advisors (“DRA”). For more information, visit www.dorningroup.com