Workout Properties
Returning Problem Properties to Financial Viability
From market analysis, site selection, financing, design and construction to marketing and management, Dominium has more that 45 years of experience in all facets of multi-family real estate. We are a creative problem solver - taking on unique development assignments that other firms are unwilling or unable to pursue. This is the bread and butter of our successful, well-respected Workout business.
Our History
Dominium was founded in 1972 and has worked on 44,992 units since inception. We have been involved with various kinds of properties over our history, including: Fee Simple, GP Acquisition, LP Acquisition, Acquisition/Rehab, Debt Acquisition, Historic Adaptive Reuse, New Construction and Receivership. In 1996, we began actively fixing troubled LIHTC properties, which created our Workout business unit. Workout properties are now a core part of our 20,000-plus unit affordable housing portfolio.
The Workout Portfolio
Our experience developing and managing affordable housing has made us a trusted partner in workout deals for almost 20 years. Our stakeholders trust us and we lead the industry in analyzing and repairing workout deals.
To date, Dominium has completed almost 18,000 units of workouts, including the acquisition of more than $57 million in defaulted project debt. Our first workout deal in 1996 was a portfolio of 58 properties, 3,862 units in 9 states. Since then we have managed and stabilized a total of 167 workout projects in 19 U.S. states and today 60% of Dominium's current stabilized portfolio were acquired as workout deals.
Through all of our workouts, after our takeover of management and partnership responsibilities, our investment partners received 100% of the tax credits without any recapture.
The Takeover Strategy
Dominium has a specific process it follows when taking over a troubled asset. This video talks about the steps we take at every troubled property to start the stabilization process.
Our Process in Action
Great Property Management Ensures Financial Results
Property owners usually think of their investments in financial terms, but the best long-term financial results come from providing our residents with a great home. Meet some of our great managers and see how they live out our philosophy of "What We Do Hits HOME".
Work with Dominium
If you are looking for a stable partner for your Workout deal, contact Mark Sween at 763-354-5559 or email [email protected]. We look forward to working with you.